Weatherford Announces Tender Offer for up to $700 Million of Senior Notes due 2030
Weatherford International (NASDAQ: WFRD) has announced a cash tender offer to purchase up to $700 million of its 8.625% Senior Notes due 2030. The tender offer includes a Total Consideration of $1,023.90 per $1,000 principal amount for notes tendered by the Early Tender Deadline of October 3, 2025.
The offer features two key periods: Notes tendered by the Early Tender Deadline will receive the full Total Consideration, including a $30.00 Early Tender Payment. Notes tendered after the Early Tender Deadline but before the October 21, 2025 Expiration Date will receive the Tender Offer Consideration of $993.90 per $1,000 principal amount.
The tender offer is contingent upon several conditions, including the successful completion of a concurrent senior notes offering. Wells Fargo Securities is serving as the dealer manager for the transaction.
Weatherford International (NASDAQ: WFRD) ha annunciato un'offerta di pagamento in contanti per acquistare fino a 700 milioni di dollari di note senior 8,625% con scadenza nel 2030. L'offerta di negoziazione comprende una Controprestazione Totale di 1.023,90 dollari per ogni 1.000 dollari di valore nominale delle note presentate entro la Scadenza per l’Offerta Anticipata del 3 ottobre 2025.
L'offerta prevede due periodi chiave: le note presentate entro la Scadenza per l’Offerta Anticipata riceveranno la Total Consideration completa, inclusa una Pagamento Anticipato di 30,00 $. Le note presentate dopo la Scadenza per l’Offerta Anticipata ma prima della Data di Scadenza del 21 ottobre 2025 riceveranno la Tender Offer Consideration di 993,90 $ per 1.000 dollari di valore nominale.
L'offerta è soggetta a diverse condizioni, tra cui il regolare completamento di un'emissione parallela di note senior. Wells Fargo Securities funge da dealer manager per l'operazione.
Weatherford International (NASDAQ: WFRD) ha anunciado una oferta de compra en efectivo para adquirir hasta 700 millones de dólares de sus Notas Senior del 8,625% con vencimiento en 2030. La oferta de compra incluye una Total Consideration de 1.023,90 $ por cada 1.000 de valor nominal para las notas presentadas antes de la Fecha Límite de Presentación Anticipada del 3 de octubre de 2025.
La oferta tiene dos periodos clave: las notas presentadas antes de la Fecha Límite de Presentación Anticipada recibirán la Total Consideration completa, que incluye un Pago por Presentación Anticipada de 30,00 $. Las notas presentadas después de la Fecha Límite de Presentación Anticipada pero antes de la Fecha de Expiración del 21 de octubre de 2025 recibirán la Tender Offer Consideration de 993,90 $ por cada 1.000 de valor nominal.
La oferta está sujeta a varias condiciones, incluida la exitosa finalización de una emisión concurrente de notes senior. Wells Fargo Securities actúa como dealer manager para la operación.
Weatherford International (NASDAQ: WFRD)가 2030년 만기 8.625%의 시니어 노트 up to 700백만 달러를 현금으로 매입하기 위한 호가를 발표했습니다. 이 매입 제안에는 만기 일자 2025년 10월 3일 이전에 교부되는 notes에 대해 총 대가 1,023.90달러가 주어지며, 원금 1,000달러당 기준입니다.
제안은 두 가지 주요 기간을 특징으로 합니다: 조기 제출 마감일까지 제출된 노트는 총 대가를 전액 받으며 조기 제출 수수료 30.00달러를 포함합니다. 조기 제출 마감일 이후 2025년 10월 21일 만료일까지 제출된 노트는 1,000달러당 993.90달러의 Tender Offer Consideration을 받게 됩니다.
현금 제안은 여러 조건에 따라 달라지며, 동시 상환 가능 채권 발행의 성공적 완료를 포함합니다. Wells Fargo Securities가 이 거래의 딜러 매니저로 역할을 수행합니다.
Weatherford International (NASDAQ: WFRD) a annoncé une offre de rachat en espèces pour l'achat jusqu'à 700 millions de dollars de ses Senior Notes 8,625% échues en 2030. L'offre comprend une Rémunération Totale de 1 023,90 $ par tranche de 1 000 dollars de valeur nominale pour les notes soumises avant la Date Limite d'Engagement Anticipé du 3 octobre 2025.
L'offre comporte deux périodes clés : les notes soumises avant la Date Limite d'Engagement Anticipé recevront la Total Consideration complète, y compris un Paiement pour Engagement Anticipé de 30,00 $. Les notes soumises après la Date Limite d'Engagement Anticipé mais avant la Date d'Expiration du 21 octobre 2025 recevront la Tender Offer Consideration de 993,90 $ par tranche de 1 000 dollars.
L'offre est subordonnée à plusieurs conditions, notamment la réussite d'une émission conjointe de notes senior. Wells Fargo Securities agit comme dealer manager pour la transaction.
Weatherford International (NASDAQ: WFRD) hat ein Barangebot bekannt gegeben, bis zu 700 Millionen USD seiner 8,625%-Senior Notes mit Fälligkeit 2030 zu erwerben. Das Angebot umfasst eine Gesamterwerbszahlung von 1.023,90 USD pro 1.000 USD Nennbetrag für Notes, die vor dem Early Tender Deadline am 3. Oktober 2025 eingereicht werden.
Das Angebot sieht zwei wesentliche Phasen vor: Notes, die vor dem Early Tender Deadline eingereicht werden, erhalten die volle Total Consideration, einschließlich einer Early Tender Payment von 30,00 USD. Notes, die nach dem Early Tender Deadline, aber vor dem Ablaufdatum am 21. Oktober 2025 eingereicht werden, erhalten die Tender Offer Consideration von 993,90 USD pro 1.000 USD Nennbetrag.
Das Angebot unterliegt mehreren Bedingungen, einschließlich des erfolgreichen Abschlusses einer gleichzeitigen Emission von Senior Notes. Wells Fargo Securities fungiert als Dealer Manager für die Transaktion.
Weatherford International (NASDAQ: WFRD) قد أعلنت عن عرض شراء نقدي لشراء ما يصل إلى 700 مليون دولار من سنداتها من الدرجة العليا بنسبة 8.625% حتى تاريخ الاستحقاق 2030. يشمل العرض إجمالياً التعويض الكلي 1,023.90 دولار لكل 1,000 دولار من القيمة الاسمية للسندات التي تُقدم قبل موعد الاستحقاق المبكر في 3 أكتوبر 2025.
يتضمن العرض فترتين رئيسيتين: تستخدم السندات المقدمة قبل موعد الاستحقاق المبكر التعويض الكلي الكامل، بما في ذلك دفع مبكر قدره 30.00 دولار. السندات المقدمة بعد موعد الاستحقاق المبكر ولكن قبل تاريخ انتهاء العرض في 21 أكتوبر 2025 ستتلقى تعويض العرض النهائي 993.90 دولار لكل 1,000 دولار من القيمة الاسمية.
يرتبط العرض بشروط عدة، بما في ذلك النجاح في إكمال إصدار سندات من الدرجة العليا بشكل متزامن. يعمل Wells Fargo Securities كـ مدير المتعاملين للصفقة.
Weatherford International (NASDAQ: WFRD) 已宣布现金收购要约，拟购入高息8.625%、到期日为2030年的一批Senior Notes，总额最高至7亿美元。按每1,000美元本金金额计，符合提前投标截止日期（2025年10月3日）条件的票据，将获得总对价1,023.90美元。
要约分为两个关键期：在提前投标截止日期前提交的票据将获得全额总对价，其中包含提前投标费30.00美元；在提前投标截止日期之后至2025年10月21日到期日之间提交的票据将获得1,000美元本金对应的Tender Offer Consideration 993.90美元的对价。
本次要约受若干条件约束，包括成功完成并行的高息票据发行。Wells Fargo Securities担任此次交易的经销商经理。
- Potential reduction of $700 million in outstanding debt
- Early tender premium of $30.00 per $1,000 provides incentive for noteholders
- Company showing proactive debt management through refinancing initiative
- New senior notes offering required to fund the tender offer may result in new debt obligations
- Premium payment above face value represents additional cost to the company
- Partial tender offer limited to $700M of $1.54B outstanding notes may leave significant high-coupon debt
Insights
Weatherford's $700M tender offer for high-interest debt signals financial strengthening and potential interest expense reduction, improving balance sheet flexibility.
Weatherford's tender offer to repurchase up to
The timing is particularly noteworthy as Weatherford is concurrently conducting a new senior notes offering. This indicates the company is likely refinancing high-interest debt (
This transaction should generate several financial benefits:
- Reduced interest expense if refinanced at lower rates
- Extended debt maturity profile
- Improved financial flexibility
- Enhanced capital structure optimization
The structured early tender premium of
This tender offer, combined with the concurrent notes offering, demonstrates Weatherford's proactive approach to capital management and likely signals management's confidence in the company's financial trajectory and operating performance.
HOUSTON, Sept. 22, 2025 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced a cash tender offer (the “Tender Offer”) to purchase for cash up to
| CUSIP Numbers | Outstanding Principal Amount | Tender Cap | Title of Security | Early Tender Deadline | Tender Offer Consideration(1)(2) | Early Tender Payment(1) | Total Consideration(1)(2)(3) | |||||
| 947075AU1 (Rule 144A); G9508CAE4 (Reg. S) | | | Notes due 2030 | October 3, 5:00 p.m., NYC time | $993.90 | $30.00 | $1,023.90 | |||||
(1) Per
(2) Excludes Accrued Interest, which will be paid in addition to the Tender Offer Consideration or the Total Consideration, as applicable.
(3) Includes the applicable Early Tender Payment.
The Tender Offer is subject to, and conditioned upon, the satisfaction or waiver of certain conditions described in the Offer to Purchase, including the consummation of the concurrently announced offering of senior notes on terms satisfactory to Weatherford in its sole discretion and certain other general conditions, in each case as described more fully in the Offer to Purchase. The Tender Offer is open to all registered holders of the 2030 Notes.
Key Dates & Other Information
- The Tender Offer will expire at 5:00 p.m. Eastern Time on October 21, 2025 (such time and date, as the same may be extended, the “Expiration Date”). Tendered 2030 Notes may be withdrawn at any time prior to 5:00 p.m. Eastern Time on October 3, 2025 (subject to certain extensions as may be required by law). Holders of 2030 Notes must validly tender and not validly withdraw their 2030 Notes before the Expiration Date to be eligible to receive any consideration for their 2030 Notes.
- 2030 Notes validly tendered and not validly withdrawn at or prior to 5:00 p.m. Eastern Time, on October 3, 2025 (“Early Tender Deadline”) will be eligible to receive the Total Consideration, which includes the early tender payment set forth in the table above (the “Early Tender Payment”). 2030 Notes validly tendered after the Early Tender Date and not validly withdrawn at or prior to 5:00 p.m. Eastern Time on October 3, 2025 (“Early Tender Deadline”) will be eligible to receive the Tender Offer Consideration, which is equal to the Total Consideration minus the Early Tender Payment.
- The total consideration (“Total Consideration”) for each
$1,000 in principal amount of 2030 Notes is set forth in the table above. - In addition, accrued and unpaid interest to, but excluding, the applicable Settlement Date (as defined below) will be paid in cash on all validly tendered 2030 Notes accepted for purchase in the Tender Offer.
- The settlement date for the 2030 Notes validly tendered and not validly withdrawn at or prior to the Early Tender Date and accepted for purchase is expected to be October 7, 2025, the second business day after the Early Tender Date (the “Initial Settlement Date”). The settlement date for the 2030 Notes validly tendered after the Early Tender Date but at or prior to the Expiration Date and accepted for purchase is expected to be October 23, 2025, the second business day after the Expiration Date (the “Final Settlement Date”).
- The Tender Offer is being made by Weatherford International, LLC and Weatherford International Ltd.
Parties & Contacts:
Wells Fargo Securities LLC is acting as dealer manager for the Tender Offer (the “Dealer Manager”). For questions regarding the Tender Offer, the Dealer Manager can be contacted at (collect) (704) 410-4235, (toll-free) (866) 309-6316 or by email to liabilitymanagement@wellsfargo.com.
Copies of the Offer to Purchase are available to holders of 2030 Notes from D.F. King & Co., Inc., the information agent and the tender agent for the Tender Offer. Requests for copies of the Offer to Purchase and any questions regarding the Tender Offer should be directed to D.F. King & Co., at their addresses set forth below:
D.F. King & Co., Inc.
28 Liberty Street, 53rd Floor
New York, NY 10005
Attention: Michael Horthman or
Call Toll Free (888) 605-1958
Banks and Brokers Only: (212) 269 5550
Email: weatherford@dfking.com
This press release does not and shall not constitute an offer to sell or a solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Offer to Purchase has not been filed with the U.S. Securities and Exchange Commission (the “SEC”), nor have any such documents been filed with or reviewed by any federal or state securities commission or regulatory authority of any country. No authority has passed upon the accuracy or adequacy of the Offer to Purchase or any related documents, and it is unlawful and may be a criminal offense to make any representation to the contrary. The Tender Offer is being made solely on the terms and conditions set forth in the Offer to Purchase. Under no circumstances shall this press release constitute an offer to buy or a solicitation of an offer to sell the 2030 Notes or any other securities of the Company or any of its affiliates. The Tender Offer is not being made to, nor will the Company accept tenders of 2030 Notes from, holders in any jurisdiction in which the Tender Offer or the acceptance thereof would not be in compliance with the securities of blue sky laws of such jurisdiction. No recommendation is made as to whether holders should tender their 2030 Notes. Holders of 2030 Notes should carefully read the Offer to Purchase because it contains important information, including the various terms and conditions of the Tender Offer.
About Weatherford
Weatherford delivers innovative energy services that integrate proven technologies with advanced digitalization to create sustainable offerings for maximized value and return on investment. Our world-class experts partner with customers to optimize their resources and realize the full potential of their assets. Operators choose us for strategic solutions that add efficiency, flexibility, and responsibility to any energy operation. The Company conducts business in approximately 75 countries and has approximately 17,300 team members representing more than 110 nationalities and 310 operating locations.
Forward-Looking Statements
This press release contains forward-looking statements concerning, among other things, the Tender Offer, and are also generally identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “outlook,” “budget,” “intend,” “strategy,” “plan,” “guidance,” “may,” “should,” “could,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions, although not all forward-looking statements contain these identifying words. Such statements are based upon the current beliefs of Weatherford’s management and are subject to significant risks, assumptions, and uncertainties. Should one or more of these risks or uncertainties materialize, or underlying assumptions prove incorrect, actual results may vary materially from those indicated in our forward-looking statements. Readers are cautioned that forward-looking statements are only estimates and may differ materially from actual future events or results, based on factors including but not limited to: global political, economic and market conditions, political disturbances, war or other global conflicts, terrorist attacks, changes in global trade policies, tariffs and sanctions, weak local economic conditions and international currency fluctuations; general global economic repercussions related to U.S. and global inflationary pressures and potential recessionary concerns; various effects from conflicts in the Middle East and the Russia Ukraine conflicts, including, but not limited to, nationalization of assets, extended business interruptions, sanctions, treaties and regulations (including changes in the regulatory environment) imposed by various countries, associated operational and logistical challenges, and impacts to the overall global energy supply; cybersecurity issues; our ability to comply with, and respond to, climate change, environmental, social and governance and other sustainability initiatives and future legislative and regulatory measures both globally and in specific geographic regions; the potential for a resurgence of a pandemic in a given geographic area and related disruptions to our business, employees, customers, suppliers and other partners; the price and price volatility of, and demand for, oil and natural gas; the macroeconomic outlook for the oil and gas industry; our ability to generate cash flow from operations to fund our operations; our ability to effectively and timely adapt our technology portfolio, products and services to remain competitive, and to address and participate in changes to the market demands, including for the transition to alternate sources of energy such as geothermal, carbon capture and responsible abandonment, including our digitalization efforts; our ability to effectively execute our capital allocation framework; our ability to return capital to shareholders, including those related to the timing and amounts (including any plans or commitments in respect thereof) of any dividends and share repurchases; and the realization of additional cost savings and operational efficiencies.
These risks and uncertainties are more fully described in Weatherford’s reports and registration statements filed with the Securities and Exchange Commission, including the risk factors described in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Accordingly, you should not place undue reliance on any of the Company’s forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law, and we caution you not to rely on them unduly.
For Investors:
Luke Lemoine
Weatherford Investor Relations
+1 713-836-7777
investor.relations@weatherford.com
For Media:
Kelley Hughes
Weatherford Communications, Marketing & Sustainability
media@weatherford.com
FAQ
What is the maximum amount of Weatherford's (WFRD) tender offer for 2030 Notes?
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What is the tender offer consideration for Weatherford's (WFRD) notes after the early tender deadline?
