NABORS INDUSTRIES LTD. (NYSE:NBR) Files An 8-K Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement

NABORS INDUSTRIES LTD. (NYSE:NBR) Files An 8-K Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Item 2.04. Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.

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On May 4, 2017, Nabors Industries, Inc. (the “Issuer”), a wholly owned subsidiary of Nabors Industries Ltd. (the “Company”), provided notice (the “Notice”) of partial redemption to the holders of the Issuer’s 6.15% Senior Notes due 2018 (the “Notes”), which were issued under that certain indenture, dated February 20, 2008, by and among the Issuer, the Company, as a guarantor, and Wells Fargo Bank, National Association, as trustee. to the Notice, the Issuer has elected to redeem $200,000,000 in aggregate principal amount of the outstanding Notes on May 24, 2017 (the “Redemption Date”).

The redemption price of the Notes will be an amount equal to the greater of (a) 50% of the principal amount of the Notes to be redeemed, or (b) the sum of the present values of the remaining scheduled payments of principal and interest thereon (exclusive of interest accrued to the Redemption Date) computed by discounting such payments to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at a rate equal to the sum of 35 basis points plus the Adjusted Treasury Rate (as defined in the Notes) on the third business day prior to the Redemption Date, plus in each case accrued and unpaid interest on the Notes up to, but not including, the Redemption Date (the “Redemption Price”). The Redemption Price will be calculated to the terms of the Notes.

This Current Report on Form 8-K does not constitute a notice of redemption under the Indenture, nor an offer to tender for, or purchase, any Notes or any other security.


About NABORS INDUSTRIES LTD. (NYSE:NBR)

Nabors Industries Ltd. owns and operates a land-based drilling rig fleet in North America. The Company is a provider of offshore platform work over and drilling rigs. It conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services. Its fleet of rigs and drilling-related equipment includes approximately 430 actively marketed rigs for land-based drilling operations in the United States, Canada and over 20 other countries throughout the world, and approximately 40 actively marketed rigs for offshore drilling operations in the United States and multiple international markets. It provides drilling technology and equipment, and well-site services, including engineering, transportation and disposal, construction, maintenance, well logging, directional drilling, rig instrumentation, data collection and other support services. In addition, it manufactures and leases or sells top drives and other rig equipment.

NABORS INDUSTRIES LTD. (NYSE:NBR) Recent Trading Information

NABORS INDUSTRIES LTD. (NYSE:NBR) closed its last trading session down -0.51 at 9.48 with 10,674,246 shares trading hands.

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