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Weatherford International plc - Consent Solicitation - Launch

Weatherford Announces Launch of Consent Solicitation to Holders of its 6.500% Senior Secured First Lien Notes Due 2028

12 APRIL 2023

Full announcement including disclaimers and offer restrictions available via Weatherford

"HOUSTON, April 12, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford,” and together with its subsidiaries, the “Company,” “we,” “us” and “our”) today announced that Weatherford International Ltd., a Bermuda exempted company and wholly owned subsidiary of Weatherford (“Weatherford Bermuda”), has commenced a consent solicitation (the “Consent Solicitation”) to solicit the consent of holders of its outstanding 6.500% Senior Secured First Lien Notes due 2028 (the “Notes”) for amendments (the “Proposed Amendments”) to the indenture governing the Notes (the “Indenture”).

Amendment and Consent

Weatherford Bermuda is conducting the Consent Solicitation to obtain the requisite holder consents to amend the Indenture to include exceptions to the “Limitation on Restricted Payments” covenant to permit the purchase, repurchase, redemption, defeasance or other acquisition or retirement for value of the 11.00% Senior Notes due 2024 of Weatherford Bermuda."


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