Weatherford Announces Upsize and Pricing of $1,200 Million of Senior Notes due 2033
Weatherford International (NASDAQ: WFRD) has announced the pricing of $1.2 billion in Senior Notes due 2033 at a 6.75% interest rate, representing a significant $600 million increase from the initially announced offering size.
The company plans to use the proceeds, along with cash on hand, to fund an upsized tender offer of $1.3 billion for its existing 8.625% Senior Notes due 2030. The notes offering is expected to close on October 6, 2025. While the tender offer is contingent on completing the notes offering, the reverse is not true.
The 2033 Notes will be offered exclusively to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S of the Securities Act.
Weatherford International (NASDAQ: WFRD) ha comunicato la determinazione del prezzo di $1.2 miliardi di Senior Notes con scadenza nel 2033 al tasso di interesse 6,75%, registrando un significativo aumento di $600 milioni rispetto alle dimensioni iniziali dell’offerta.
L’azienda intende utilizzare i proventi, insieme alla liquidità disponibile, per finanziare un’offerta di tender ampliata di $1.3 miliardi per i suoi attuali Senior Notes 8,625% in scadenza nel 2030. Si prevede che l’offerta di note chiuda il 6 ottobre 2025. Mentre l’offerta di tender è subordinata al completamento dell’emissione delle notes, non è vero il contrario.
Le Note 2033 saranno offerte esclusivamente a qualified institutional buyers ai sensi della Rule 144A e a persone non statunitensi ai sensi del Regulation S dello Securities Act.
Weatherford International (NASDAQ: WFRD) ha anunciado el precio de $1.2 mil millones en Senior Notes con vencimiento en 2033 a una tasa de interés de 6.75%, lo que representa un aumento significativo de $600 millones respecto al tamaño inicial de la oferta.
La compañía planea utilizar los ingresos, junto con el efectivo disponible, para financiar una reapertura ampliada de la oferta de adquisición de $1.3 mil millones para sus actuales Senior Notes del 8.625% con vencimiento en 2030. Se espera que la oferta de notas cierre el 6 de octubre de 2025. Mientras la oferta de recompra está condicionada a la finalización de la oferta de notas, no es viceversa.
Las Notas 2033 se ofrecerán exclusivamente a compradores institucionales calificados bajo la Regla 144A y a personas no estadounidenses bajo el Reglamento S de la Securities Act.
Weatherford International (NASDAQ: WFRD)가 2033년 만기 $1.2십억 규모의 Senior Notes를 6.75%의 이자율로 가격 발표했으며, 초기 발표 규모에서 $600백만의 상당한 증가를 나타냅니다.
회사는 현금 보유액과 함께 이를 사용하여 2030년 만기 8.625%의 기존 Senior Notes를 위한 $1.3십억 규모의 확대된 현금 매수Tender를 자금 조달할 계획입니다. 주채권 발행은 2025년 10월 6일에 마감될 것으로 예상됩니다. 채권 매수 Tender는 채권 발행의 완료를 조건으로 하며, 그 반대는 해당되지 않습니다.
2033년 만기 채권은 Rule 144A에 따른 자격 있는 기관 투자자와 Regulation S에 따른 미국 외 거주자에게만 제공됩니다.
Weatherford International (NASDAQ: WFRD) a annoncé le prix de 1,2 milliard de dollars de Senior Notes arrivant à échéance en 2033 à un taux d’intérêt de 6,75%, soit une augmentation significative de 600 millions de dollars par rapport à la taille initiale de l’offre.
La société prévoit d’utiliser les produits, avec les liquidités disponibles, pour financer une offre de racheter élargie de 1,3 milliard de dollars sur ses Senior Notes existantes 8,625% arrivant à échéance en 2030. On s’attend à ce que l’offre d’obligations soit clôturée le 6 octobre 2025. Bien que l’offre d’achat soit conditionnée à la réussite de l’offre obligataire, ce ne sera pas le cas inverse.
Les Notes 2033 seront offertes exclusivement à des acheteurs institutionnels qualifiés selon la Rule 144A et à des personnes non américaines selon le Regulation S du Securities Act.
Weatherford International (NASDAQ: WFRD) hat die Preisfestsetzung für $1,2 Milliarden Senior Notes mit Fälligkeit 2033 zu einem Zinssatz von 6,75% bekannt gegeben, was eine deutliche Erhöhung um $600 Millionen gegenüber der ursprünglich angekündigten Emissionsgröße bedeutet.
Das Unternehmen plant, die Erlöse zusammen mit verfügbaren Barmitteln zu verwenden, um ein vergrößertes Tender-Angebot von $1,3 Milliarden für die bestehenden 8,625%-Senior Notes mit Fälligkeit 2030 zu finanzieren. Es wird erwartet, dass der Anleiheemission am 6. Oktober 2025 abgeschlossen wird. Während das Tender-Angebot von der Fertigstellung der Anleiheemission abhängig ist, gilt Letzteres nicht umgekehrt.
Die 2033 Notes werden ausschließlich qualifizierten institutionellen Käufern gemäß Rule 144A und Nicht-US-Personen gemäß Regulation S des Securities Act angeboten.
Weatherford International (NASDAQ: WFRD) أعلن عن تسعير سندات Senior Notes بقيمة $1.2 مليار تستحق في 2033 بمعدل فائدة 6.75%، وهو زيادة كبيرة تبلغ $600 مليون عن حجم العرض المعلن في البداية.
تخطط الشركة لاستخدام العائدات مع النقد المتاح لتمويل عرض tender موسع بقيمة $1.3 مليار لسنداتها senior الحالية من فئة 8.625% تستحق عام 2030. من المتوقع أن تُغلق صفقة إصدار السندات في 6 أكتوبر 2025. بينما يعتمد عرض الشراء على إتمام إصدار السندات، لا ينطبق العكس.
سيُعرض سندات 2033 حصرياً للمشترين المؤسسيين المؤهلين وفق القاعدة 144A ولأشخاص غير أمريكيين بموجب التنظيم S من قانون الأوراق المالية.
Weatherford International (NASDAQ: WFRD) 已宣布以 $1.2 十亿美元的价格发行2033年到期的 Senior Notes，利率为 6.75%，较最初宣布的发行规模增加了显著的 $6oo 百万美元。
公司计划将募集资金与手头现金一起用于资助对现有的 8.625% 2030 年到期 Senior Notes 的扩量招标，规模为 $1.3 十亿美元。预计此笔债券发行将于 2025年10月6日完成。尽管招标要约以完成债券发行为前提，但反之则不成立。
2033 年的票据将仅向合格机构买家（符合 Rule 144A）以及符合 Regulation S 的非美国个人提供。
- Successful upsize of notes offering by $600 million to $1.2 billion total
- Lower interest rate of 6.75% on new 2033 Notes compared to 8.625% on existing 2030 Notes
- Refinancing of debt extends maturity profile from 2030 to 2033
- Significant total debt level with $1.2 billion new notes issuance
- Additional transaction fees and expenses associated with refinancing
Insights
Weatherford's $1.2B notes offering at 6.75% enables strategic refinancing of higher-cost debt, strengthening financial position.
Weatherford's successful upsizing of its 2033 Notes offering to
This refinancing strategy accomplishes several important objectives:
- Interest expense reduction: The lower interest rate will generate approximately
$24 million in annual interest savings, enhancing free cash flow - Debt maturity extension: Pushing maturities from 2030 to 2033 provides three additional years of financial flexibility
- Credit profile improvement: Demonstrating market access at favorable rates strengthens Weatherford's financial position
The upsized tender offer of
The fact that the notes were priced at par indicates the coupon aligned perfectly with market expectations, suggesting the transaction was well-calibrated to current market conditions.
HOUSTON, Sept. 22, 2025 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced that its subsidiary, Weatherford International Ltd., has priced
Weatherford intends to use the net proceeds from the 2033 Notes Offering, together with cash on hand, to (i) fund its previously announced tender offer (the “Tender Offer”) for its
The Tender Offer is conditioned on the consummation of the 2033 Notes Offering. The 2033 Notes Offering, however, is not conditioned on the consummation of the Tender Offer.
The 2033 Notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and the rules promulgated thereunder and applicable state securities laws. The 2033 Notes will be offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act.
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 2033 Notes Offering may be made only by means of an offering memorandum. This press release also does not constitute an offer to purchase or the solicitation of an offer to sell any 2030 Notes in 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, the 2033 Notes Offering, and use of proceeds, 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 size and interest rate of Weatherford's (WFRD) new Senior Notes offering?
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What is the difference in interest rates between Weatherford's new and existing notes?
