Nabors to redeem $200 million portion of 6.15% notes due 2018

By Wendy Van Sickle

Columbus, Ohio, May 4 – Nabors Industries Ltd. subsidiary Nabors Industries, Inc. plans to redeem a $200 million portion of its 6.15% senior notes due 2018 on May 24, according to an 8-K filing with the Securities and Exchange Commission.

The redemption price will be the greater of par and the sum of the values of the remaining scheduled payments of principal and interest thereon computed by discounting such payments to the redemption date on a semiannual basis at a rate equal to the sum of 35 basis points plus the Adjusted Treasury Rate on the third business day prior to the redemption date.

Wells Fargo Bank, NA is the trustee

The oil, natural gas and geothermal drilling contractor is based in Hamilton, Bermuda.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.