Nabors closes $550M 8.875% notes offering to refinance 2026 notes

NABORS INDUSTRIES LTD

Net proceeds ~$540.7M; used to redeem $555.9M of 7.25% Senior Guaranteed Notes due 2026.
Notes mature August 15, 2031, bearing interest at 8.875% per annum.
Fully and unconditionally guaranteed by parent NIL and six wholly-owned subsidiaries.
Issued under Rule 144A/Reg S; includes change-of-control put at 101% and make-whole redemption.

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