HAMILTON, Bermuda, April 10, 2013 /CNW/ - Nabors Industries Ltd. (NYSE:NBR)
today announced that its wholly owned subsidiary, Nabors Industries, Inc.
("NII"), has established an unsecured commercial paper program, on a private
placement basis, under which NII may issue from time to time unsecured
commercial paper notes up to a maximum aggregate amount outstanding at any
time of $1.5 billion. NII's revolving credit facility is available to repay
the notes if necessary. The notes are guaranteed by Nabors Industries Ltd.
(collectively with NII, the "Company"), and the proceeds of the notes will be
used by the Company for general corporate purposes.
The notes to be offered by NII under the commercial paper program will not be
registered under the Securities Act of 1933 and may not be offered or sold in
the United States absent registration or an applicable exemption from
registration requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy NII's notes under its commercial
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SOURCE: Nabors Industries Ltd.
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-0- Apr/10/2013 11:01 GMT
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