Moody's rates Nabors' exchangeable notes Ba2
Approximately $500 million of new unsecured notes rated. New York, January 10, 2017-- Moody's Investors Service assigned a Ba2 rating to Nabors Industries Inc.' s $500 million exchangeable senior unsecured notes due January 15, 2024. Nabors' other ratings and negative outlook remained unchanged. Net proceeds will be primarily used to prepay the $162.5 million remaining balance on Nabors' 2020 term loan and to repurchase or repay other indebtedness.
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