newsfilter
← Latest News
GlobeNewswire·

Weatherford Announces Redemption of 8.625% Senior Notes Due 2030

  • Weatherford International plc announced the redemption of all $236 million in outstanding 8.625% Senior Notes due 2030.
  • The notes were redeemed at 100% of their principal amount plus accrued interest using cash on hand.
  • The transaction reduces Weatherford's gross debt by $236 million & lowers annualized cash interest expense by approximately $20 million.
  • Following the redemption, no current outstanding debt is scheduled to mature for approximately the next seven years.
  • Anuj Dhruv, Executive Vice President & Chief Financial Officer, stated the move strengthens the financial foundation & provides flexibility to invest in high-value opportunities.