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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Wednesday, April 24, 8:19 AM

Slide #36. Nabors Industries Ltd. Preferred Stock Offering

Company: Nabors Industries Ltd. (NYSE:NBR)
Date announced: 5/9/2018
Shares Offered: 5,000,000
Preferred Stock Offering Details: Nabors Industries Ltd. (NYSE:NBR) ("Nabors") announced today that it has commenced concurrent underwritten public offerings of 35,000,000 of its common shares and 5,000,000 of its new mandatory convertible preferred shares, series A (the "mandatory convertible preferred shares"). In connection with the common shares offering, Nabors intends to grant the underwriters a 30-day option to purchase an additional 5,250,000 common shares. In connection with the mandatory convertible preferred shares offering, Nabors intends to grant the underwriters a 30-day overallotment option to purchase an additional 750,000 mandatory convertible preferred shares. Nabors intends to use the net proceeds from these offerings to repay borrowings outstanding under its revolving credit facility, which it may re-borrow from time to time for the repayment of other indebtedness, and for general corporate purposes.

Nabors Industries, through its subsidiaries, is owns and operates land-based drilling rig fleet and is a provider of offshore platform drilling rigs in the U.S. and several international markets. Co. also provides directional drilling services, performance tools, and technologies for its own rig fleet and those of third parties. Co.'s business is comprised of its land-based and offshore drilling rig operations and other rig related services and technologies, consisting of equipment manufacturing, rig instrumentation and optimization software. Co. also engages in wellbore placement solutions and is a provider of directional drilling and measurement while drilling systems and services.
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Name:  Nabors Industries Ltd
Website:  www.nabors.com
Sector:  Oil & Gas Exploration & Production
Number of ETFs Holding NBR:  56 (see which ones)
Total Market Value Held by ETFs:  $292,517,133
Total Market Capitalization:  $1,363,000,000
% of Market Cap. Held by ETFs:  21.46%
 

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