Nabors' Subsidiary Offers Additional $750MM of Senior Notes
Nabors Industries Ltd. has announced that its wholly owned subsidiary, Nabors Industries Inc., has commenced an offering of an additional $750 million of its 6.15% Senior Notes due 2018 with registration rights.
This offering is an additional issuance of the same notes that were issued in February 2008 and are subject to the same rates, terms and conditions. Accordingly, the notes will bear interest at a rate of 6.15%, will mature on February 15, 2018 and will be fully and unconditionally guaranteed by Nabors Industries Ltd.
The notes being offered will be offered to qualified institutional buyers under Rule 144A. The notes have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the notes in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
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