Weatherford Announces Senior Note Issue

March 30, 2012

Weatherford International Ltd., a Bermuda exempted company and a subsidiary of Weatherford International Ltd., a Swiss joint-stock corporation, announced today [Mar. 30] that it has commenced an offering of senior notes.

Weatherford and Weatherford International, Inc., a Delaware corporation and subsidiary of Weatherford, will fully and unconditionally guarantee the notes on a senior, unsecured basis.

The net proceeds from this offering will be used to repay existing short-term debt and for general corporate purposes. Until the net proceeds are used for such purposes, the net proceeds may be invested in short-term liquid investments.

J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. are acting as the joint book-running managers.

Weatherford is a Swiss-based, multi-national oilfield service company. It is one of the largest global providers of innovative mechanical solutions, technology and services for the drilling and production sectors of the oil and gas industry. Weatherford operates in more than 100 countries and employs more than 60,000 people worldwide.

Read More About

Category: All, Business

.