logo
Share SHARE
FONT-SIZE Plus   Neg

Weatherford Launches Senior Notes Offering

Weatherford International Ltd., a Bermuda exempted company and a subsidiary of Weatherford International Ltd. (WFT), a Swiss joint-stock corporation, said Friday that it has commenced an offering of senior notes.

Weatherford and Weatherford International, Inc., a Delaware corporation and subsidiary of Weatherford, will fully and unconditionally guarantee the notes on a senior, unsecured basis.

The net proceeds from the offering will be used to repay existing short-term debt and for general corporate purposes.

Until the net proceeds are used for such purposes, the net proceeds may be invested in short-term liquid investments.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
AIG reported a plunge in second-quarter profit, hurt by a decline at its insurance business, debt-related losses and lower gains from the sale of investments. However, its earnings topped Street estimates, partly on contribution from aircraft leasing giant AerCap. AIG also announced a boost in dividend and said it would buyback an additional $5 billion stock. Automakers on Monday reported strong U.S. vehicle sales for the month of July, driven by continued demand for trucks and sport-utility vehicles amid an improving economy, lower gas prices and easy availability of credit. Detroit's Big Three - General Motors Co., Ford Motor Co. and FCA US, LLC - all reported vehicle sales above analyst expectations. British lender Lloyds Banking Group Plc. Friday reported higher profit in its first half, benefited by increased net interest income and margin as well as lower impairment. Looking ahead, the company lifted its net interest margin forecast.
comments powered by Disqus
RELATED NEWS
Trade WFT now with 
Follow RTT