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News Spotlight: Nabors Industries Ltd. (NYSE:NBR)

January 7, 2020

Nabors Industries Ltd. (NYSE:NBR)  stock observed trading -18.38% off 52-week high price. On the other end, the stock has been noted 122.00% away from low price over the last 52-weeks. The stock disclosed a move of 46.01% away from 50 day moving average and 30.50% away from 200 day moving average. Moving closer, we can see that shares have been trading 20.52% off 20-day moving average. It has market cap of $1.31B and dividend yield of 1.20%.

On Jan. 6, 2020, Nabors Industries Ltd. (NYSE:NBR) reported that it has commenced an offering of senior guaranteed notes due 2026 (the 2026 Notes) and senior guaranteed notes due 2028 (the 2028 Notes and together with the 2026 Notes, the notes). The notes will be fully and unconditionally guaranteed by certain of Nabors’ indirect wholly-owned subsidiaries consisting of Nabors Industries (NII), Nabors Drilling Holdings Inc., Nabors International Finance Inc., Nabors Lux Finance 1, Nabors Global Holdings Ltd. and Nabors Holdings Ltd.

The notes will be senior unsecured obligations of Nabors and will rank pari passu in right of payment with all of Nabors’ existing and future senior obligations. The guarantees of the notes will be senior unsecured obligations of the guarantors and will rank pari passu in right of payment with all of the guarantors’ existing and future senior obligations.

Nabors intends to use the net proceeds from this offering to fund NII’s offer to repurchase, for an aggregate purchase price of up to $800 million NII’s 5.50% senior notes due 2023, 4.625% senior notes due 2021, 5.10% senior notes due 2023 and 5.00% senior notes due 2020 in the tender offers and consent solicitations for such notes announced , and will use the remaining proceeds for the repayment of debt and other general corporate purposes.

The notes will be offered and sold to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the Securities Act), and to persons outside the United States in accordance with Regulation S under the Securities Act and applicable exemptions from registration, prospectus or like requirements under the laws and regulations of the relevant jurisdictions outside the United States. The notes will not be registered under the Securities Act and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The notes will also not be registered in any jurisdiction outside of the United States and no action or steps will be taken to permit the offer of the notes in any such jurisdiction where any registration or other action or steps would be required to permit an offer of the notes.

The Bermuda based company Nabors Industries Ltd. moved with change of 6.39% to $3.33 with the total traded volume of 10947836 shares in recent session versus to an average volume of 8.24M. The stock was observed in the 5 days activity at 13.27%. The one month performance of stock was 66.50%. NBR’s shares are at 112.10% for the quarter and driving a 39.33% return over the course of the past year and is now at 15.62% since this point in 2018.  Right now the stock beta is 2.94. The average volatility for the week and month was at 6.23% and 7.20% respectively. There are 393.61M shares outstanding and 391.43M shares are floated in market.

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