Weatherford to redeem $50 million 11% senior notes on Aug. 10

By William Gullotti

Buffalo, N.Y., July 11 – Weatherford International plc intends to redeem $50 million of its 11% senior notes due Dec. 1, 2024 on Aug. 10, according to a press release on Monday.

According to the press release, the redemption will be funded with cash on hand.

“This repayment demonstrates our commitment to continue improving our capital structure from our operating results,” remarked Girish Saligram, president and chief executive officer.

Weatherford is an oilfield services company with operational headquarters in Houston. The company is incorporated in Switzerland.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.