Shares of Nabors Industries Ltd. (NBR) are falling more than 7% Friday morning at $161.03.
The company today said its unit Nabors Industries, Inc. has priced $225 million of 1.75% senior unsecured notes due 2029, believed to be privately placed with institutional buyers.
The notes will bear interest at a rate of 1.750% per year until maturity, payable semi-annually, beginning on December 15, 2023, the company said.
The offering of the notes is expected to close on February 14.
NBR has traded in the range of $92.66-$207.67 in the last 1 year.
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