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November 27, 2015 11:41 PM ET

Energy Equipment and Services

Company Overview of Nabors Industries, Inc.

Company Overview

Nabors Industries, Inc. offers land drilling contractor services. The company provides offshore platform work over and drilling rigs. The company conducts oil, gas, and geothermal land drilling operations in Alaska and Canada, and internationally, primarily in South and Central America, the Middle East, and Africa. Nabors Industries, Inc. was formerly known as Anglo Company, Inc. The company was incorporated in 1978 and is based in Houston, Texas. Nabors Industries, Inc. operates as a subsidiary of Nabors Industries Ltd.

515 West Greens Road

Suite 1200

Houston, TX 77067

United States

Founded in 1978





Key Executives for Nabors Industries, Inc.

Chief Executive Officer
Age: 60
Secretary and General Counsel
Compensation as of Fiscal Year 2015.

Nabors Industries, Inc. Key Developments

Nabors Industries, Inc. Enters into $325 Million, Five-Year Unsecured Term Loan Agreement

On September 29, 2015, Nabors Industries, Inc. (NII), a wholly owned subsidiary of Nabors Industries Ltd. (Nabors), and Nabors, as guarantor, entered into a $325 million, five-year unsecured term loan agreement with Bank of America, N.A., The Bank of Tokyo-Mitsubishi UFJ Ltd. and Mizuho Bank Ltd., with a mandatory prepayment of $162.5 million due in three years. Nabors fully and unconditionally guarantees the obligations of NII under the loan agreement. Under the loan agreement, Mizuho Bank Ltd. is documentation agent, The Bank of Tokyo-Mitsubishi UFJ Ltd. is syndication agent and Bank of America, N.A. is administrative agent. Merrill Lynch, Pierce Fenner & Smith Incorporated, The Bank of Tokyo-Mitsubishi UFJ Ltd. and Mizuho Bank Ltd. acted as joint lead arrangers and bookrunners. Borrowings under the loan agreement will bear interest for interest periods of one, two, three or six months, at an annual rate equal to the London Interbank Offered Rate for the corresponding deposits of U.S. dollars, plus the applicable interest margin. The interest margin is based on Nabors’ long-term unsecured credit rating for debt as in effect from time to time. Based on Nabors’ unsecured debt rating as of the date of the loan agreement, the current interest margin is 117.5 bps. The loan agreement contains representations and warranties, covenants and events of default which are customary for loan facilities of this type.

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