Optional Redemption; Purchases upon Change of Control Triggering Event. (a) On or after January 15, 2023, the Company may redeem the Securities, in whole at any time or in part from time to time, at the redemption prices (expressed as a percentage of principal amount of the Securities to be redeemed) set forth below, plus accrued and unpaid interest, if any, on the Securities, to, but excluding, the applicable Redemption Date, if redeemed during the twelve-month period beginning on January 15 of the years indicated below: Year Percentage 2023 105.625 % 2024 103.750 % 2025 101.875 % 2026 and thereafter 100.000 % (b) At any time and from time to time prior to January 15, 2023, upon giving notice as provided in Section 10.03 of the Indenture, the Company may redeem up to 35% of the aggregate principal amount of the Securities with an aggregate amount less than or equal to the cash proceeds less any underwriting spread paid in cash of one or more Equity Offerings, at a redemption price equal to 107.500% of the principal amount thereof, plus accrued and unpaid interest, if any, to (but not including) the Redemption Date; provided, however, that, at least 50% of the original aggregate principal amount of the Securities (excluding any Additional Securities of such series) must remain outstanding immediately after each such redemption; provided, further, that such redemption shall occur within 180 days after the date on which any such Equity Offering is consummated. (c) At any time prior to January 15, 2023, the Company may redeem the Securities, in whole at any time and in part from time to time, upon giving notice as provided in Section 10.03 of the Indenture, at a redemption price equal to 100% of the aggregate principal amount of the Securities to be redeemed, plus the Applicable Premium, plus accrued and unpaid interest, if any, to, but excluding, the Redemption Date.
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Sources: Indenture (Nabors Industries LTD)
Optional Redemption; Purchases upon Change of Control Triggering Event. (a) (a) On or after January July 15, 20232022, the Company may redeem the Securities, in whole at any time or in part from time to time, at the redemption prices (expressed as a percentage of principal amount of the Securities to be redeemed) set forth below, plus accrued and unpaid interest, if any, on the Securities, to, but excluding, the applicable Redemption Date, if redeemed during the twelve-month period beginning on January 15 of the years periods indicated below: Year Period Percentage July 15, 2022 to July 14, 2023 105.625 105.438 % July 15, 2023 to July 14, 2024 103.750 103.625 % July 15, 2024 to January 14, 2025 101.875 101.813 % 2026 January 15, 2025 and thereafter 100.000 %
(b) At any time and from time to time prior to January July 15, 20232022, upon giving notice as provided in Section 10.03 of the Indenture, the Company may redeem up to 35% of the aggregate principal amount of the Securities with an aggregate amount less than or equal to the cash proceeds less any underwriting spread paid in cash of one or more Equity Offerings, at a redemption price equal to 107.500107.250% of the principal amount thereof, plus accrued and unpaid interest, if any, to (but not including) the Redemption Date; provided, however, that, at least 50% of the original aggregate principal amount of the Securities (excluding any Additional Securities of such series) must remain outstanding immediately after each such redemption; provided, further, that such redemption shall occur within 180 days after the date on which any such Equity Offering is consummated.
(c) At any time prior to January July 15, 20232022, the Company may redeem the Securities, in whole at any time and in part from time to time, upon giving notice as provided in Section 10.03 of the Indenture, at a redemption price equal to 100% of the aggregate principal amount of the Securities to be redeemed, plus the Applicable Premium, plus accrued and unpaid interest, if any, to, but excluding, the Redemption Date.
Appears in 1 contract
Sources: Indenture (Nabors Industries LTD)