Nabors Industries Ltd offered 750Madmin
Nabors Industries Ltd, an oil and gas driller company, published a report saying that one of its subsidiaries has priced a $750 million, 10-year offering. The offering of senior notes by Nabors Industries Inc, due 2018. It is also reported that it will have a 6.15 percent interest rate. The company said that The offering is an additional issuance of the same notes that were issued in February 2008, and will have the same rates, terms and conditions. The notes have not been registered under the Securities Act of 1933, meaning they cannot be offered or sold in the United States unless certain exemptions are made or unless they’re sold in a transaction not subject to the act.
In addition the notes will be offered under Securities and Exchange Rule 144A, which means they may trade privately among investors who presumably do not need the protection of securities laws. Shares of Nabors Industries Ltd. fell $1.50, or 3.5 percent, to $42.01 in afternoon trading.