Weatherford International plc Announces the Repayment of $ 200 Million Principal Amount of its 11.0% Senior Bonds due December 1, 2024. | Texas News
HOUSTON, 20 October 2021 / PRNewswire / – Weatherford International plc (NASDAQ: WFRD) (“Weatherford“or the” Company “) announced today that its wholly owned subsidiary, Weatherford International Ltd. (the” Issuer “), has completed the previously announced acquisition of $ 200 million principal amount of its 11.0% senior notes due December 1, 2024 using cash in hand.
H. Keith Jennings, Executive Vice President and Chief Financial Officer, said, “We are extremely proud of the progress our employees have made in improving our operations. The sustainable generation of operating cash flow has enabled us to repay our debts while continuing to improve our capital structure.
This press release contains forward-looking statements concerning, among other things, the Company’s financing strategy and plans and objectives. These forward-looking statements are also generally identified by the words “intent to”, “believe”, “plan”, “expect”, “anticipate”, “estimate”, “outlook”, “budget”, “have the intention “,” strategy, “” plan “,” direction “,” may “,” should “,” could “,” will “,” would “,” will “,” continue “,” will probably result “and similar expressions, although not all forward-looking statements contain these identifying words. Such statements are based on current beliefs of Weatherford management and are subject to significant risks, assumptions and uncertainties. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove to be incorrect, actual results may differ materially from those shown in our forward-looking statements. Readers are cautioned that forward-looking statements are predictions only and may differ materially from actual future events or results, including the price and price volatility of oil and natural gas; the extent or duration of business disruptions, demand for oil and gas, and fluctuations in commodity prices associated with the COVID-19 pandemic; the general global economic impact of the COVID-19 pandemic; macroeconomic outlook for the oil and gas industry; and the operational challenges of the COVID-19 pandemic and efforts to mitigate the spread of the COVID-19 virus and COVID-19 variants, including logistical challenges, protecting the health and well-being of our employees, remote working arrangements, contract enforcement and supply chain disruptions; financial market conditions and the availability of capital; our ability to generate cash flow from operations to finance our operations; and achieving additional cost savings and operational efficiencies. Forward-looking statements are also affected by risk factors described in the company’s annual report on Form 10-K for the year ended. December 31, 2020, and those set forth from time to time in other documents filed by the Company with the Securities and Exchange Commission. The Company assumes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by federal securities laws.
Weatherford is a world leader in energy services. Present in approximately 75 countries, the company responds to the challenges of the energy sector through its global talent network of approximately 17,000 members and approximately 365 operating sites, comprising facilities for manufacturing, research and development, service and training.
Weatherford Investor Relations
For the media:
Weatherford Global Communications
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SOURCE Weatherford International plc