Weatherford International Ltd.
EANS-Adhoc: Weatherford Prices Senior Notes Offering
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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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31.03.2012
GENEVA, March 30, 2012 -- Weatherford International Ltd., a Bermuda
exempted company ("Weatherford Bermuda") and a subsidiary of Weatherford
International Ltd., a Swiss joint-stock corporation (NYSE: WFT)
("Weatherford"), announced today 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%.
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 offering is expected to close on April 4,
2012, subject to customary closing conditions.
(Logo: http://photos.prnewswire.com/prnh/19990308/WEATHERFORDLOGO)
The net proceeds from this 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.
J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Citigroup Global
Markets Inc. and Deutsche Bank Securities Inc. are acting as the joint book-
running managers. Copies of the prospectus supplement and prospectus may be
obtained at no cost by visiting EDGAR on the SEC website at http://www.sec.gov.
Alternatively, copies of the prospectus supplement and prospectus may be
requested by contacting J.P. Morgan Securities LLC at 383 Madison Ave., New
York, NY 10179, Attn: Investment Grade Syndicate Desk (or at 212-834-4533) or
Morgan Stanley & Co. LLC at Attn: Prospectus Department, 180 Varick Street, 2nd
Floor, New York, New York 10014 (or at 1-866-718-1649).
This press release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities described in this press release, nor
shall there be any sale of these securities in any state or jurisdiction in
which such an offer, sale or solicitation would be unlawful prior to
qualification under the securities laws of any such jurisdiction. Offers of the
securities described in this press release will be made only by means of a
prospectus and prospectus supplement filed with the U.S. Securities and
Exchange Commission. The prospectus and prospectus supplement are part of a
shelf registration statement that has become effective under the U.S.
Securities Act of 1933, as amended.
Weatherford is a Swiss-based, multi-national oilfield service company. It
is one of the largest global providers of innovative mechanical solutions,
technology and services for the drilling and production sectors of the oil and
gas industry. Weatherford operates in more than 100 countries and employs more
than 60,000 people worldwide.
Forward Looking Statements
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995 concerning, among other
things, the anticipated use of the proceeds of this offering and the timing and
consummation of the offering. Those forward-looking statements are subject to
certain risks, uncertainties and assumptions. These risks and uncertainties,
which are more fully described in Weatherford International Ltd.'s reports and
registration statements filed with the SEC, include the impact of oil and
natural gas prices and worldwide economic conditions on drilling activity, the
outcome of pending government investigations, the demand for and pricing of
Weatherford's products and services, domestic and international economic and
regulatory conditions and changes in tax and other laws affecting our business.
Should one or more of these risks or uncertainties materialize, or should the
assumptions prove incorrect, actual results may vary materially from those
currently anticipated.
Further inquiry note:
Contacts: John H. Briscoe +713.836.4610
Chief Financial Officer
Karen David-Green +713.836.7430
Vice President - Investor Relations
end of announcement euro adhoc
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issuer: Weatherford International Ltd.
Rue Jean-Francois Bartholoni 4-6
CH-1204 Geneva
phone: +41.22.816.1500
FAX: +41.22.816.1599
mail: karen.david-green@weatherford.com
WWW: http://www.weatherford.com
sector: Oil & Gas - Upstream activities
ISIN: CH0038838394
indexes:
stockmarkets: Main Standard: SIX Swiss Exchange, stock market: New York, Euronext
Paris
language: English