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Will Nabors’ Indebtedness Improve after Equity Offerings?

Alex Chamberlin
Will Nabors’ Indebtedness Improve after Equity Offerings?

On May 10, Nabors Industries (NBR) announced the offering of 35 million common shares at $7.75 per share. It also priced the offering of its 5 million convertible preferred shares at $50 per share. In addition, both offerings allow the underwriters to purchase up to an additional 5.3 million common shares and 750,000 preferred shares.