Weatherford Announces Redemption of 8.625% Senior Notes Due 2030
Key Highlights
- ➤$236 million of 8.625% senior notes due 2030 redeemed at par
- ➤Redemption reduces gross debt by $236 million
- ➤Annualized cash interest expense expected to decline approximately $20 million
- ➤No outstanding debt maturities scheduled for approximately seven years
Expert Statements
Anuj Dhruv, Executive Vice President and Chief Financial Officer of Weatherford
“This redemption is another step in strengthening our financial foundation and reflects the disciplined approach we continue to take toward capital allocation. Retiring higher-cost debt lowers our interest expense, extends our maturity runway, and gives us greater flexibility to invest in the opportunities that create the most value for Weatherford and our shareholders.”
HOUSTON, Oct. 30, 2026 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced the redemption of all $236 million aggregate principal amount outstanding of its 8.625% Senior Notes due 2030 (the “2030 Notes”). The notes are being redeemed at 100% of their principal amount, plus accrued and unpaid interest, using cash on hand.
The redemption further optimizes Weatherford’s capital structure, reduces Weatherford’s gross debt by $236 million, and is expected to reduce annualized cash interest expense by approximately $20 million. Following the redemption, none of Weatherford’s current outstanding debt is scheduled to mature for approximately the next seven years, providing significant financial flexibility to support the Company’s strategic priorities.
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