Nabors buys 93% of 0% convertibles due 2021 in response to puts

New York, Feb. 7 - Nabors Industries Ltd. said it redeemed $1.117 billion principal amount of its zero-coupon senior convertible debentures due 2021 in response to puts exercised by investors.

Following the put, $82.8 million principal amount of the debentures remain outstanding.

Nabors paid $688.89 per security for a total of $769.8 million.

Nabors is a Hamilton, Bermuda-based drilling rig operator.

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