Nabors Prices $700 million in Senior Priority Guaranteed Notes

Core Viewpoint - Nabors Industries Ltd. has successfully priced $700 million in senior priority guaranteed notes due 2032, up from an initially announced $550 million, with an interest rate of 7.625% [1][2]. Group 1: Offering Details - The offering of the notes was upsized to $700 million from $550 million, with an annual interest rate of 7.625% and an initial offering price of 100% of par [1]. - The notes will be fully guaranteed by Nabors and certain indirect wholly-owned subsidiaries, ranking pari passu with existing senior priority guaranteed notes [2]. - The expected net proceeds from the offering are approximately $690.2 million after deducting discounts to initial purchasers [1]. Group 2: Use of Proceeds - Nabors intends to use the net proceeds to redeem approximately $546.1 million of outstanding 7.375% senior priority guaranteed notes due 2027, with the remaining funds allocated for general corporate purposes [3]. Group 3: Regulatory and Offering Conditions - The notes will be offered to qualified institutional buyers under Rule 144A and to persons outside the U.S. under Regulation S, without registration under the Securities Act [4]. - The offering will not be registered in any jurisdiction outside the U.S., and no steps will be taken to permit the offer in jurisdictions requiring registration [4].