Weatherford to redeem all 9 5/8% senior notes due 2019 on March 31

By Sarah Lizee

Olympia, Wash., March 1 – Weatherford International plc wholly owned subsidiary Weatherford International Ltd. intends to redeem all of its outstanding 9 5/8% senior notes due 2019 on March 31, according to a press release.

The redemption price will equal the greater of par and the sum of the present values of the remaining scheduled payments of principal and interest on the notes, discounted on a semiannual basis at the adjusted Treasury rate plus 50 basis points, in each case plus accrued interest to but excluding the redemption date.

Deutsche Bank Trust Co. Americas is the trustee and paying agent.

Weatherford is an oilfield services company based in Baar, Switzerland.

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