---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-017832"
form_type: "8-K"
ticker: "NBR"
cik: "0001163739"
company_name: "NABORS INDUSTRIES LTD"
filed_at: "2023-02-10T23:59:59+00:00"
generated_at: "2026-06-19T17:34:43.679557+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Nabors prices $225M 1.75% exchangeable notes due 2029 to refinance 9% debt

## Summary
- $225M principal, 1.75% coupon, due June 15, 2029; initial purchasers have 30-day option for additional $25M.
- Initial exchange rate 4.7056 shares per $1,000 principal ($212.51/share), a 22.5% premium over $173.48 closing price.
- Proceeds to redeem all outstanding 9.00% senior priority guaranteed notes due Feb 2025; excess for general corporate purposes.
- Closing expected Feb 14, 2023; notes are unsecured and fully guaranteed by Nabors Industries Ltd.

## SEC filing metadata
- accession: 0001104659-23-017832
- form_type: 8-K
- ticker: NBR
- cik: 0001163739
- company_name: NABORS INDUSTRIES LTD
- filed_at: 2023-02-10T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1163739/000110465923017832/0001104659-23-017832-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1163739/000110465923017832/tm235194d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-017832
- JSON: https://secwatch.observer/filing/0001104659-23-017832.json
- Plain text: https://secwatch.observer/filing/0001104659-23-017832.txt

## Key facts
- Material Agreements
  NABORS INDUSTRIES LTD entered into Purchase Agreement with the initial purchasers named in the Purchase Agreement valued at $225,000,000 aggregate principal amount (effective 2023-02-09).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: the initial purchasers named in the Purchase Agreement
  - Value: $225,000,000 aggregate principal amount
  - Effective: 2023-02-09
  source text: On February 9, 2023, Nabors Industries, Inc. (“NII”), a wholly owned subsidiary of Nabors Industries Ltd. (“NIL”), and NIL entered into a purchase agreement (the “Purchase Agreement”) under which NII agreed to sell $225,000,000 aggregate principal amount of its 1.750% Exchangeable Senior Notes due June 15, 2029 (the “Exchangeable Notes”) to the initial purchasers named in the Purchase Agreement (the “Initial Purchasers”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1163739/000110465923017832/0001104659-23-017832-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.