secwatch.observer — SEC 8-K summary
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Issuer:     NABORS INDUSTRIES LTD (NBR)
CIK:        0001163739
Form:       8-K
Filed at:   2023-02-14T23:59:59+00:00
Accession:  0001104659-23-021987
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nabors closes $250M exchangeable notes offering at 1.75%, redeems 9% senior notes
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- Issued $225M firm notes + $25M option (exercised) of 1.750% exchangeable senior notes due June 2029; net proceeds ~$242.2M.
- Net proceeds to redeem all outstanding 9.00% senior priority guaranteed notes due Feb 2025; excess for general corporate purposes.
- Notes exchangeable for NIL common at initial rate of 4.7056 shares per $1,000 (exchange price ~$212.51), subject to adjustment.
- Notes are general unsecured obligations of NII, fully guaranteed by NIL; issued under indenture with Wilmington Trust as trustee.
- Offered privately under Rule 144A; any shares issued upon exchange exempt under Section 3(a)(9) of Securities Act.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1163739/000110465923021987/0001104659-23-021987-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1163739/000110465923021987/tm235194d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-021987

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