Weatherford Upsizes Senior Notes Offering To $1.2 Bln, Pricing 6.75% Notes Due 2033

(RTTNews) - Weatherford International plc (WFRD) announced that its subsidiary, Weatherford International Ltd., has priced $1.200 billion aggregate principal amount of its 6.75% Senior Notes due 2033 at par, which represents a $600 million increase from the previously announced size of the offering. The 2033 Notes Offering is expected to close on October 6, 2025, subject to customary closing conditions.

Weatherford intends to use the net proceeds from the 2033 Notes Offering, together with cash on hand, to fund its previously announced tender offer for its 8.625% Senior Unsecured Notes due 2030, which has been upsized to $1.300 billion, and (ii) pay accrued and unpaid interest on the 2030 Notes as well as pay related transaction fees and expenses.

The tender offer is conditioned on the consummation of the 2033 Notes Offering. The 2033 Notes Offering, however, is not conditioned on the consummation of the Tender Offer.