Nabors Announces Partial Redemption of 7.375% Senior Priority Guaranteed Notes Due in 2027

Core Viewpoint - Nabors Industries has announced the redemption of $150 million of its 7.375% Senior Priority Guaranteed Notes due in 2027, marking a significant step in its debt reduction strategy [1][2]. Group 1: Debt Management - The redemption date for the notes is set for September 30, 2025, with a redemption price of 101.844% of the principal amount, plus accrued and unpaid interest [1]. - The company has already repaid the outstanding balance on its revolving credit facility, which was previously drawn to repay a term loan from Parker Wellbore [2]. Group 2: Strategic Initiatives - Proceeds from the sale of Quail Tools, which was sold for $600 million, will be utilized to further reduce debt [2][5]. - The company emphasizes that debt reduction is a key value driver for its business [2]. Group 3: Company Overview - Nabors Industries is a leading provider of advanced technology for the energy industry, operating in over 20 countries [3]. - The company focuses on drilling, engineering, automation, data science, and manufacturing to innovate energy solutions and support the transition to a lower-carbon world [3].