HAMILTON, Bermuda, July 17 /CNW/ -- Nabors Industries Ltd. (NYSE: NBR)
today announced that its wholly owned subsidiary, Nabors Industries Inc., has
commenced an offering of an additional $750 million of its 6.15% Senior Notes
due 2018 with registration rights. This offering is an additional issuance of
the same notes that were issued in February 2008 and are subject to the same
rates, terms and conditions. Accordingly, the notes will bear interest at a
rate of 6.15 percent, will mature on February 15, 2018 and will be fully and
unconditionally guaranteed by Nabors Industries Ltd.
The notes being offered will be offered to qualified institutional buyers
under Rule 144A. The notes have not been registered under the Securities Act
of 1933, as amended (the "Securities Act"), and, unless so registered, may not
be offered or sold in the United States except pursuant to an exemption from,
or in a transaction not subject to, the registration requirements of the
Securities Act and applicable state securities laws. This press release shall
not constitute an offer to sell or the solicitation of an offer to buy, nor
shall there be any sale of the notes in any state in which such offer,
solicitation, or sale would be unlawful prior to registration or qualification
under the securities laws of any such state.
The information above includes forward-looking statements within the
meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934.
Such forward-looking statements are subject to certain risks and
uncertainties, as disclosed by Nabors from time to time in its filings with
the Securities and Exchange Commission. As a result of these factors, Nabors'
actual results may differ materially from those indicated or implied by such
The Nabors companies own and actively market a fleet of approximately 537
land drilling and approximately 747 land workover and well-servicing rigs in
North America. Nabors' actively marketed offshore fleet consists of
approximately 36 platform rigs, 12 jack-up units and 4 barge rigs in the
United States and multiple international markets. In addition, Nabors
manufactures top drives and drilling instrumentation systems and provides
comprehensive oilfield hauling, engineering, civil construction, logistics and
facilities maintenance, and project management services. Nabors also holds
interest in various oil and gas properties, both in North America and
internationally. Nabors participates in most of the significant oil, gas and
geothermal markets in the world.
For further information, please contact Dennis A. Smith, Director of
Corporate Development of Nabors Corporate Services, Inc. at 281-775-8038. To
request Investor Materials, call our corporate headquarters in Hamilton,
Bermuda at 441-292-1510 or via email at firstname.lastname@example.org.
For further information:
For further information: Dennis A. Smith, Director of Corporate
Development of Nabors Corporate Services, Inc., +1-281-775-8038