​Oilfield services giant to raise $1billion

Weatherford International PLC (NYSE: WFT) on Sept. 21 launched stock and debt public offerings to raise $1 billion, which will help fund future acquisitions.The Ireland-domiciled services company, which operates out of Houston, will issue ordinary shares and mandatorily exchangeable subordinated notes to raise the funds.  In a statement, the company said it will use the $1 billion to “pre-fund potential acquisitions” and for general corporate purposes.Additionally, it said the offerings are expected to reduce its revolving credit facility. Notes will have a maturity of three years.

Source: ​Weatherford International to raise funds for acquisitions through public offerings – Houston Business Journal

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