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Weatherford Prices $1.3 Bln Senior Notes Offering

3/30/2012 5:33 PM ET

Weatherford International Ltd., a Bermuda exempted company and a subsidiary of Weatherford International Ltd. (WFT: Quote), a Swiss joint-stock corporation, on Friday announced the pricing of the offering by Weatherford Bermuda of $750 million aggregate principal amount of 4.50% Senior Notes due 2022 at a public offering price of 99.855% and $550 million aggregate principal amount of 5.95% Senior Notes due 2042 at a public offering price of 99.291%.

The offering is expected to close on April 4.

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.

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by RTT Staff Writer

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