Our lawyers provide innovative and practical counsel on a wide variety of capital raising and securities law compliance matters. We represent clients ranging from emerging private companies to established public companies. With each, we build long-term relationships, generating efficiencies and helping them realize their business goals.
Weatherford Completes $1.6 Billion Notes Offering
- Client News
- October 27, 2021
Practices
Paul, Weiss represented Weatherford International Ltd., a subsidiary of leading Ireland-based multinational oil-and-gas company Weatherford International plc, in a Rule 144A offering of $1.6 billion aggregate principal amount of 8.625% senior unsecured notes maturing on April 30, 2030. The aggregate principal amount of the notes issued was upsized from the previously announced $1.5 billion to $1.6 billion. Morgan Stanley, Wells Fargo Securities, Barclays and Deutsche Bank Securities were the joint bookrunning managers.
Net proceeds from the offering were used together with cash on hand to purchase $1.6 billion principal amount of the company’s existing 11.00% senior unsecured notes pursuant to a tender offer.
The Paul, Weiss team included, among others, corporate partner John Kennedy and tax partner Robert Holo.