Issuer: | Weatherford International Ltd. (Bloomberg Ticker: WFT) |
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Guarantor: | Weatherford International, Inc. |
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Ratings: | Baa1 (stable) Moodys / BBB+ (stable) S&P |
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Securities: | $1,000,000,000 9.625% Senior Notes due 2019 |
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$250,000,000 9.875% Senior Notes due 2039 |
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Format: | SEC registered (global) (No. 333-135244) |
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CUSIP / ISIN No. | 2019 Notes: 947075 AF4 / US947075AF47 |
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2039 Notes: 947075 AG2 / US947075AG20 |
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Trade Date: | January 5, 2009 |
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Expected Settlement: | January 8, 2009 (T+3) |
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Maturity: | 2019 Notes: March 1, 2019 |
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2039 Notes: March 1, 2039 |
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Price To Public: | 2019 Notes: 99.495% of principal amount |
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2039 Notes: 98.841% of principal amount |
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Coupon: | 2019 Notes: 9.625% per year (payable semi-annually) |
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2039 Notes: 9.875% per year (payable semi-annually) |
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Interest Payment Dates: | March 1 and September 1, beginning March 1, 2009 |
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Benchmark Treasury: | 2019 Notes: 3.750% due November 15, 2018 |
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2039 Notes: 4.375% due February 15, 2038 |
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Benchmark Treasury Yield: | 2019 Notes: 2.478% |
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2039 Notes: 3.018% |
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Spread: | 2019 Notes: +723.0 basis points over Benchmark Treasury |
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2039 Notes: +698.2 basis points over Benchmark Treasury |
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Yield: | 2019 Notes: 9.708% |
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2039 Notes: 10.000% |
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Make Whole Call At Any Time: | The greater of 100% of principal amount or discounted present
value at Adjusted Treasury Rate +50 bps (0.50%) for both the 2019 Notes
and 2039 Notes |
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Denominations: | $2,000 and multiples of $1,000 in excess of $2,000 |
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Joint Bookrunners: | Banc of America Securities LLC |
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Barclays Capital Inc. |
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Deutsche Bank Securities Inc. |
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Goldman, Sachs & Co. |
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UBS Securities LLC |