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.
Anuj Dhruv, Weatherford’s Executive Vice President and Chief Financial Officer, commented, “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.”
About Weatherford
Weatherford is a global energy services company that helps customers drill smarter, complete wells more effectively, and maximize production across the entire well lifecycle. With a differentiated portfolio of market-leading solutions, integrated technologies, and a broad global customer footprint across six continents, we blend advanced engineering, digital intelligence, and world-class field expertise to reduce risk, improve performance, and maximize the value of customer assets. Together, we elevate every operation, delivering stronger wells, sharper decisions, and better energy for the world. Visit weatherford.com for more information and connect with us on social media.
Forward-Looking Statement
This news release contains projections and forward-looking statements concerning expectations regarding future financial results. Such statements are only estimates based upon the current beliefs of Weatherford’s management and are subject to significant risks, assumptions, and uncertainties. Should one or more of these risks or uncertainties materialize, or underlying assumptions prove incorrect, actual results may vary materially from those indicated in our forward-looking statements. These risks and uncertainties are more fully described in Weatherford’s reports and registration statements filed with the Securities and Exchange Commission, including the risk factors described in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Accordingly, you should not place undue reliance on any of the Company’s forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
For Investors:
Luke Lemoine
Senior Vice President, Corporate Development & Investor Relations
+1 713-836-7777
investor.relations@weatherford.com
For Media:
Kelley Hughes
Vice President, Communications, Marketing & Sustainability
media@weatherford.com
