February 21, 2018 8:24 PM ET

Energy Equipment and Services

Company Overview of Nabors Industries, Inc.

Company Overview

Nabors Industries, Inc. offers land drilling contractor services to the energy sector. 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

Phone:

281-874-0035

Fax:

281-872-5205

Key Executives for Nabors Industries, Inc.

Chief Executive Officer
Age: 62
Secretary and General Counsel
Age: 50
Compensation as of Fiscal Year 2017.

Nabors Industries, Inc. Key Developments

Nabors Industries, Inc. Sells $800,000,000 Aggregate Principal Amount of its 5.75% Senior Notes Due 2025

As previously disclosed, on January 16, 2018 Nabors Industries, Inc. (NII) and Nabors Industries Ltd. (NIL) entered into a purchase agreement under which NII agreed to sell $800,000,000 aggregate principal amount of its 5.75% Senior Notes due 2025 (the Notes) to Goldman Sachs & Co. LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, HSBC Securities (USA) Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc., PNC Capital Markets LLC, BBVA Securities Inc., SMBC Nikko Securities America, Inc., ANZ Securities, Inc., and Intrepid Partners, LLC (collectively, the Initial Purchasers). The Notes are fully and unconditionally guaranteed by NIL. The closing of the sale of the Notes occurred on January 23, 2018. NII received net proceeds, after deducting estimated offering commissions and estimated net expenses, of approximately $788,600,000. Nabors intends to use the net proceeds from this offering to repay indebtedness of Nabors and its subsidiaries, including all of NII's outstanding 6.15% senior notes due February 2018. Nabors intends to initially use the net proceeds from this offering to prepay amounts currently outstanding under NII's unsecured revolving credit facility and subsequently draw on the unsecured revolving credit facility to pay NII's outstanding 6.15% senior notes due February 2018 at maturity. The revolving credit facility matures in 2020 and the weighted average interest rate on borrowing under the revolving credit facility was 2.59% as of September 30, 2017. NII sold the Notes to the Initial Purchasers in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended (the Securities Act). The Initial Purchasers then sold the Notes to (i) qualified institutional buyers pursuant to the exemption from registration provided by Rule 144A and (ii) pursuant to Regulation S under the Securities Act. NII relied on these exemptions from registration based in part on representations made by the Initial Purchasers in the Purchase Agreement. The Notes are governed by an indenture, dated as of January 23, 2018 (the Indenture), among NII, as issuer, NIL, as guarantor, Wilmington Trust, National Association, as trustee and Citibank, N.A., as securities administrator. The Notes will bear interest at a rate of 5.75% per year payable semi-annually in arrears in cash on February 1 and August 1, beginning on August 1, 2018. The Notes will mature on February 1, 2025.

Nabors Industries, Inc. Prices $800,000,000 in Senior Unsecured Debt Offering

Nabors Industries Ltd. announced that its wholly owned subsidiary, Nabors Industries, Inc. has priced $800,000,000 in senior unsecured notes due 2025, in the private placement offering it announced earlier January 16, 2018. The notes will bear interest at an annual rate of 5.75%, and are being offered to investors at an initial price of 100% of par. The notes will be fully and unconditionally guaranteed by Nabors Industries Ltd. The closing of the sale of notes is expected to occur on or about January 23, 2018. Nabors intends to use the net proceeds from this offering to repay indebtedness of Nabors and its subsidiaries, including all of NII's outstanding 6.15% senior notes due February 2018. Nabors intends to initially use the net proceeds from this offering to prepay amounts currently outstanding under NII's unsecured revolving credit facility and commercial paper borrowings and subsequently draw on the unsecured revolving credit facility or use cash on hand to pay NII's outstanding 6.15% senior notes due February 2018 at maturity. The revolving credit facility matures in 2020 and the weighted average interest rate on borrowing under the revolving credit facility was 2.59% as of September 30, 2017. The notes will be offered and sold to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to persons outside the United States in accordance with Regulation S under the Securities Act and applicable exemptions from registration, prospectus or like requirements under the laws and regulations of the relevant jurisdictions outside the United States.

Nabors Announces Offering of Senior Unsecured Notes

Nabors Industries Ltd. announced that its wholly owned subsidiary, Nabors Industries, Inc. has commenced an offering of senior unsecured notes due 2025. The notes will be fully and unconditionally guaranteed by Nabors. Nabors intends to use the net proceeds from this offering to repay indebtedness of Nabors and its subsidiaries, including all of NII's outstanding 6.15% senior notes due February 2018. Nabors intends to initially use the net proceeds from this offering to prepay amounts currently outstanding under NII's unsecured revolving credit facility and subsequently draw on the unsecured revolving credit facility to pay NII's outstanding 6.15% senior notes due February 2018 at maturity. The revolving credit facility matures in 2020 and the weighted average interest rate on borrowing under the revolving credit facility was 2.59% as of September 30, 2017.

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