Nabors Announces Redemption of 7.500% Senior Guaranteed Notes Due 2028 and Fourth Quarter 2025 Reduction in Net Debt of Approximately $366 Million, Equivalent to $25 per Share

Rhea-AI Summary

Nabors (NYSE: NBR) announced the full redemption of its 7.500% Senior Guaranteed Notes due 2028 with a face value of approximately $379 million, redeemed at par on January 15, 2026. As of December 31, 2025, total debt was about $2.5 billion, cash and short-term investments were ~$940 million, and net debt was approximately $1.55 billion, the lowest net leverage since 2008. Net debt fell by ~$366 million in Q4 2025 (about $25 per share) and ~$550 million since December 31, 2024. Following the redemption long-term debt is ~$2.15 billion, weighted average maturity rose to 5.3 years, and the next debt maturity is in 2029.

Positive

• Net debt reduced by $366 million in Q4 2025 (≈$25 per share)
• Total net debt down ~$550 million since Dec 31, 2024
• Weighted average debt maturity extended to 5.3 years (from 3.7)
• 7.500% 2028 notes of ~$379 million redeemed at par

Negative

• Total debt remains approximately $2.5 billion
• Net debt of approximately $1.55 billion indicates ongoing leverage

Market Context

This announcement highlights external validation of the company’s positioning on employee satisfacti...

Analysis

This announcement highlights external validation of the company’s positioning on employee satisfaction, growth, and ESG, with over 35,000 volunteer hours and about $1.45 million in charitable donations reported for 2024. In the broader context of recent debt refinancing, ratings upgrades, and net debt reduction to roughly $1.67B, investors may track how non-financial strengths complement balance sheet progress. Future updates on leverage, credit metrics, and operational performance remain key metrics to monitor alongside ongoing ESG reporting.

Key Figures

Volunteer hours: 35,000 hours Charitable donations: $1.45 million World’s Best Employers streak: three consecutive years +5 more

8 metrics

Volunteer hours 35,000 hours Employee volunteerism reported for 2024

Charitable donations $1.45 million Donated to charities around the world in 2024

World’s Best Employers streak three consecutive years Forbes recognition as one of the World’s Best Employers

Canada’s Best Employers streak four years in a row Recognition as one of Canada’s Best Employers

Diversity employer streak two consecutive years Canada’s Best Employers for Diversity by Forbes

Top 100 Employers count ten times Ranked on Canada’s Top 100 Employers list

Fiscal year period start July 1, 2023 Start of fiscal year 2024 covered in report

Fiscal year period end June 31, 2024 End of fiscal year 2024 covered in report

Historical Context

5 past events · Latest: Nov 04 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Nov 04	Credit rating upgrades	Positive	+0.1%	Multiple agencies upgraded Nabors’ issuer and notes credit ratings.
Nov 04	Debt pricing	Neutral	+0.1%	Priced $700M 7.625% senior priority guaranteed notes due 2032.
Nov 04	Debt offering	Negative	-3.9%	Announced $550M notes offering to refinance 2027 senior notes.
Nov 03	Operational update	Positive	+11.1%	SANAD JV rigs received notices to resume work with extended terms.
Oct 28	Earnings report	Positive	-0.2%	Strong 3Q25 earnings, asset sale gain, and net debt reduction.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

News tied to operational or balance sheet improvements has often aligned with price moves, though positive earnings-triggered balance sheet progress once saw a slight negative reaction.

Recent Company History

Over the last few months, NBR focused on balance sheet optimization and operational developments. In 3Q 2025, it reported $818.2M operating revenue and $274M net income, aided by a $314M gain from selling Quail Tools, and reduced net debt to about $1.67B. Subsequent offerings and pricing of senior priority guaranteed notes in early Nov 2025 refinanced $546.1M of 2027 notes. Ratings agencies then upgraded Nabors’ credit ratings. Operationally, the SANAD JV received notices to resume work for two Saudi rigs, expected back in March and June 2026 with extended terms.

Key Terms

esg, science based targets initiative (sbti), united nations sustainable development goals (sdgs), corporate citizenship report

4 terms

esg financial

"based on three primary dimensions: Employee Satisfaction, Revenue Growth, and Sustainability (ESG)."

ESG stands for Environmental, Social, and Governance, which are key factors investors consider when evaluating how sustainable and responsible a company is. It involves assessing how a company manages its impact on the environment, treats its employees and communities, and operates transparently and ethically. Investors use ESG criteria to identify businesses that align with their values and have the potential for long-term success.

science based targets initiative (sbti) regulatory

"in line with the Science Based Targets Initiative (SBTi)."

The Science Based Targets initiative (SBTi) is a nonprofit group that helps companies set and validate measurable plans to cut their greenhouse gas emissions in line with climate science. For investors, an SBTi-validated commitment is like a credible road map showing a company is planning concrete steps to reduce climate risk and comply with future regulations, which can affect long-term costs, competitiveness and asset value.

united nations sustainable development goals (sdgs) regulatory

"in alignment with several of the United Nations Sustainable Development Goals (SDGs)."

A set of 17 global goals created by the United Nations to tackle major social, environmental and economic challenges such as poverty, clean energy, health and climate action. Think of them as an internationally agreed roadmap or checklist for long-term wellbeing; investors use the SDGs to judge a company’s exposure to future risks and opportunities, guide sustainable strategy, and compare how businesses contribute to or detract from broad societal priorities.

corporate citizenship report technical

"released its annual Corporate Citizenship Report, providing a detailed update"

A corporate citizenship report is a public document where a company outlines its environmental, social and governance efforts—how it treats workers, the community, regulators and the planet—and the risks and results related to those activities. Investors use it like a report card to judge long-term health and reputation, spotting potential regulatory, operational or reputational risks that can affect future earnings and the company’s value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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HAMILTON, Bermuda, Jan. 15, 2026 /PRNewswire/ -- Nabors Industries Ltd. ("Nabors" or the "Company") (NYSE: NBR) today announced the full redemption of its outstanding 7.500% Senior Guaranteed Notes due 2028, with a face value of approximately $379 million. The Notes were redeemed at par, plus accrued and unpaid interest, on January 15, 2026.

Nabors also announced certain preliminary balance sheet figures. As of December 31, 2025, total debt amounted to approximately $2.5 billion. Cash and short-term investments were approximately $940 million. Net debt, defined as total debt less cash and short-term investments, was approximately $1.55 billion as of December 31, 2025, bringing net leverage to its lowest level since 2008. This amount represents a reduction of approximately $366 million – equivalent to approximately $25 per Nabors common share – during the fourth quarter and approximately $550 million since December 31, 2024.  

Following the redemption, long–term debt stands at approximately $2.15 billion. The Company's next debt maturity occurs in 2029. Also following the redemption, the weighted average maturity on Nabors' outstanding debt has increased to 5.3 years, from 3.7 years as of September 30, 2025.

Anthony G. Petrello, Nabors Chairman, President and CEO, commented, "This redemption represents another meaningful step in advancing our commitment to debt reduction as a core driver of shareholder value. The combination of our opportunistic Parker Wellbore and Quail Tools transactions, together with strong operational execution, contributed to this outcome. We have successfully cleared and extended our financing runway to 2029. These actions materially strengthen our capital structure and position the Company for continued strategic progress."

About Nabors Industries

Nabors Industries (NYSE: NBR) is a leading provider of advanced technology for the energy industry. With presence in more than 20 countries, Nabors has established a global network of people, technology and equipment to deploy solutions that deliver safe, efficient and responsible energy production. By leveraging its core competencies, particularly in drilling, engineering, automation, data science and manufacturing, Nabors aims to innovate the future of energy and enable the transition to a lower-carbon world. Learn more about Nabors and its energy technology leadership: www.nabors.com.

Forward-looking Statements

The information included in this press release 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 a number of 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 forward-looking statements. The forward-looking statements contained in this press release reflect management's estimates and beliefs as of the date of this press release. Nabors does not undertake to update these forward-looking statements. 

Non-GAAP Disclaimer

This press release presents a "non-GAAP" financial measure. The components of this non-GAAP measure are computed by using amounts that are determined in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Net debt is calculated as total debt minus the sum of cash, cash equivalents and short-term investments.

This non-GAAP measure has limitations and therefore should not be used in isolation or as a substitute for the amounts reported in accordance with GAAP. However, management evaluates the performance of its operating segments and the consolidated Company based on several criteria, including net debt, because it believes that this financial measure accurately reflects the Company's liquidity. Securities analysts and investors also use this measure as one of the metrics on which they analyze the Company's performance. Other companies in this industry may compute this measure differently. A reconciliation of net debt to total debt, which is the nearest comparable GAAP financial measure, is included in the table at the end of this press release.

Investor Contacts:  William C. Conroy, CFA, Vice President of Corporate Development & Investor Relations, +1 281-775-2423 or via e-mail william.conroy@nabors.com, or Kara K. Peak, Director of Corporate Development & Investor Relations, +1 281-775-4954 or via email kara.peak@nabors.com. To request investor materials, contact Nabors' corporate headquarters in Hamilton, Bermuda at +441-292-1510 or via e-mail mark.andrews@nabors.com

FAQ

What did Nabors (NBR) redeem on January 15, 2026?

Nabors redeemed its outstanding 7.500% Senior Guaranteed Notes due 2028 with a face value of about $379 million, at par plus accrued interest.

How much did Nabors reduce net debt in Q4 2025 and what is that per share?

Net debt fell by approximately $366 million during Q4 2025, equivalent to about $25 per Nabors common share.

What is Nabors' net debt and cash position as of December 31, 2025?

As of December 31, 2025, total debt was ~$2.5 billion, cash and short-term investments were ~$940 million, and net debt was ~$1.55 billion.

How did the redemption affect Nabors' debt maturity profile and next maturity date?

Following the redemption, weighted average maturity increased to 5.3 years and the next debt maturity is in 2029.

How much has Nabors reduced net debt since December 31, 2024?

Nabors reports a net debt reduction of approximately $550 million since December 31, 2024.