Nabors Industries has garnered $700 million through a sale of senior unsecured bonds. The notes, carrying a coupon rate of 4.62%, will mature in 2021. The Bermuda-based company intends to use the proceeds for the repayment of debt and other general corporate purposes.
The sale was initially marketed as a $500 million offering and was later upsized, adds The Wall Street Journal. The transaction was led by Citigroup.
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