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Weatherford will use new offering to redeem 11% notes due 2024
Chicago, Sept. 20 – Weatherford International Ltd. will use the proceeds from a new offering of notes to redeem all of its outstanding 8 7/8% senior secured notes due Sept. 1, 2024, according to a press release.
If the issuer successfully sells new notes and the offering is completed, the company will also use cash on hand to redeem $200 million of its 11% senior notes due Dec. 1, 2024.
Weatherford is a Houston-based energy services company.
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