Weatherford calls $50 million of 6½% notes due 2028 at 103

By Marisa Wong

Los Angeles, Oct. 13 – Weatherford International plc, through wholly owned subsidiary Weatherford International Ltd., issued a notice of redemption to redeem $50 million aggregate principal amount outstanding of its 6½% senior notes due 2028, according to a press release.

The notes will be redeemed on Oct. 23 at 103 plus accrued interest to but excluding the redemption date.

President and chief executive officer Girish Saligram commented in the release, “The additional partial redemption of the 2028 notes is another important step in our capital structure improvement journey and further evidences our commitment to act on our capital allocation priorities and improve our operating profile.”

Weatherford is an oilfield services company with headquarters in Houston.

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