BAAR, Switzerland, July 1, 2016 /PRNewswire/ -- Weatherford
International plc (NYSE: WFT) (the "Company" or "Weatherford")
announced today the final results and expiration of the previously
announced offers (the "Tender Offers") by Weatherford International
Ltd., a Bermuda exempted company
and indirect, wholly owned subsidiary of the Company ("Weatherford
Bermuda"), and Weatherford International, LLC, a Delaware limited
liability company and indirect, wholly owned subsidiary of the
Company and indirect subsidiary of Weatherford Bermuda
("Weatherford Delaware"), to
purchase for cash Weatherford
Delaware's 6.35% senior notes due 2017 (the "2017 Notes")
and Weatherford Bermuda's 6.00% senior notes due 2018 (the "2018
Notes"), 9.625% senior notes due 2019 (the "2019 Notes") and 5.125%
senior notes due 2020 (the "2020 Notes" and, together with the 2017
Notes, 2018 Notes and 2019 Notes, the "Notes") for a maximum
aggregate purchase price (excluding accrued interest) of up to
$2.6 billion.
The table below sets forth the final results of the Tender
Offers according to information received from Global Bondholder
Services Corporation, the Depositary and Information Agent, as of
11:59 p.m., New York City time, on June 30, 2016:
Title of
Security
|
Aggregate
Principal
Amount Outstanding(1)
|
Principal
Amount
Tendered
|
Principal
Amount
Accepted
|
Total Purchase
Price (2)
|
Weatherford
Delaware's
2017 Notes
|
$600,000,000
|
$511,954,000
|
$511,954,000
|
$537,515,400
|
Weatherford
Bermuda's
2018 Notes
|
$500,000,000
|
$434,078,000
|
$434,078,000
|
$457,944,130
|
Weatherford
Bermuda's
2019 Notes
|
$1,000,000,000
|
$514,804,000
|
$514,804,000
|
$566,274,530
|
Weatherford
Bermuda's
2020 Notes
|
$773,088,000
|
$407,981,000
|
$407,981,000
|
$385,535,355
|
|
|
|
(1) As of June 1,
2016, the date of commencement of the Tender Offers
|
(2) Excludes accrued
and unpaid interest.
|
|
|
|
|
|
|
Notes tendered and not accepted for purchase will be promptly
returned or credited to the applicable holder's account.
This press release is for informational purposes only and is
not an offer to buy, nor the solicitation of an offer to sell any
of the Notes. The Tender Offers were made solely by the Offer to
Purchase, dated June 1, 2016, as
amended by the press releases filed on June
8, 2016 and June 10,
2016.
Deutsche Bank Securities Inc., Citigroup Global Markets Inc.,
RBC Capital Markets, LLC and Wells Fargo Securities, LLC were the
dealer managers in the Tender Offers. Global Bondholder Services
Corporation was retained to serve as both the depositary and the
information agent for the Tender Offers. Persons with questions
regarding the Tender Offers should contact Deutsche Bank Securities
Inc. at (toll-free): (855) 287-1922 or (collect): (212) 250-7527,
Citigroup Global Markets Inc. at (toll-free): (800) 558-3745 or
(New York): (212) 723-6106, RBC
Capital Markets, LLC at (toll-free): (877) 381-2099 or (collect):
(212) 618-7822 or Wells Fargo Securities, LLC at (toll-free): (866)
309-6316 or (collect): (704) 410-4760. Requests for copies of the
Offer to Purchase and other related materials should be directed to
Global Bondholder Services Corporation at (toll-free): (866)
807-2200 or (collect): (212) 430-3774.
ABOUT WEATHERFORD INTERNATIONAL PLC
Weatherford is one of the largest multinational oilfield service
companies providing innovative solutions, technology and services
to the oil and gas industry. The Company operates in over 100
countries and has a network of approximately 1,100 locations,
including manufacturing, service, research and development, and
training facilities and employs approximately 33,100 people.
FORWARD-LOOKING STATEMENTS
This press release includes forward-looking statements as
defined under federal law, including those related to the Company's
tender offers. These forward-looking statements are generally
identified by the words "believe," "expect," "anticipate,"
"estimate," "intend," "plan," "may," "should," "could," "will,"
"would," and "will be," and similar expressions, although not all
forward-looking statements contain these identifying words. Such
statements are subject to significant risks, assumptions and
uncertainties. Known material factors that could cause the
Company's actual results to differ materially from the results
contemplated by such forward-looking statements are described in
the forward-looking statements and risk factors described in the
Company's Annual Report on Form 10-K for the fiscal year ended
December 31, 2015 and those risk
factors set forth from time-to-time in other filings with the SEC.
Weatherford undertakes no obligation to correct or update any
forward-looking statement, whether as a result of new information,
future events, or otherwise, except to the extent required under
federal securities laws.
Investor
Contact:
|
|
Krishna
Shivram
|
+1.713.836.4610
|
Executive Vice
President and Chief Financial Officer
|
|
Karen
David-Green
|
+1.713.836.7430
|
Vice President –
Investor Relations, Corporate Marketing &
Communications
|
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