Nabors Industries Inc. (NII) opened an offering of senior unsecured notes due 2023 that will be guaranteed by parent Nabors Industries Ltd., according to a Dec. 2 press release.
Proceeds will prepay the $162.5 million portion due in 2018 under NII's $325 million unsecured term loan and all amounts currently outstanding under NII's unsecured revolving credit facility, which matures in 2020. Unused proceeds will support general corporate purposes including repaying commercial paper debt and other debts.
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