Weatherford completes consent solicitation, to redeem $105M of 11% notes due 2024

Weatherford International plc

Holders of 97.62% of 6.5% notes consented to allow redemption of 11% notes.
WIL-Bermuda will redeem $105M aggregate principal of 11.00% Senior Notes due 2024 on May 22, 2023.
Redemption price of 102.750% of principal plus accrued interest to May 22, 2023.
CEO says redemption reduces gross debt below December 2019 levels, continuing capital structure improvement.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Weatherford International plc amended Second Supplemental Indenture with Wilmington Trust, National Association (effective 2023-04-19).

Action: amendment
Agreement: notes offering
Counterparty: Wilmington Trust, National Association
Effective: 2023-04-19

Exact text from the filing

Because the consents of the holders of a majority in aggregate principal amount of outstanding Notes were received as of April 19, 2023, WIL-Bermuda entered into a supplemental indenture to the Indenture (the “Second Supplemental Indenture”) with Weatherford, Weatherford Delaware, the Trustee and the Collateral Agent.

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Weatherford International plc filing history →

Source: SEC EDGAR

accession 0001104659-23-047448

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