Weatherford International Ltd.
EANS-Adhoc: Weatherford Announces Offering of Senior Notes
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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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Offering of Senior Notes
30.03.2012
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 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.
(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,
Weatherford's plan to complete a public offering of senior notes and the
anticipated use of the proceeds of this offering. Such 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 econ omic 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
Chief Financial Officer +713.836.4610
Karen David-Green
Vice President - Investor Relations +713.836.7430
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