Nabors offers $750M
Nabors Industries Ltd, An Oil and gas driller, announced that one of its subsidiaries has priced a $750 million, 10-year offering. The company said that Nabors Industries Inc.’s offering of senior notes, due 2018, will have a 6.15 percent interest rate. 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.
In addition, the company said that 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, besides 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.
