Nabors Prices $650 Million in Senior Priority Guaranteed Notes

HAMILTON, Bermuda, Nov. 15, 2023 /PRNewswire/ -- Nabors Industries Ltd. (NYSE: NBR) ("Nabors") today announced that Nabors Industries, Inc. ("NII") has priced $650 million in aggregate principal amount of senior priority guaranteed notes due 2030 (the "Notes") in the offering it announced earlier today. The Notes will bear interest at an annual rate of 9.125% and are being offered to investors at an initial price of 100% of par. The Notes will be fully and unconditionally guaranteed by Nabors and certain of Nabors' indirect wholly-owned subsidiaries consisting of Nabors Drilling Holdings Inc., Nabors Drilling Technologies USA, Inc., Nabors International Finance Inc., Nabors Lux Finance 1 S.à.r.l., Nabors Lux 2 S.à.r.l., Nabors Global Holdings Limited, Nabors International Management Limited, Nabors Holdings Ltd. and Canrig Drilling Technology Canada Ltd. The sale of the Notes to the initial purchasers is expected to close on November 20, 2023, subject to customary closing conditions, and is expected to result in approximately $641 million in net proceeds to Nabors after deducting offering expenses payable by Nabors.

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