Banking, finance, and taxes
Weatherford: Raising Money the Old-Fashioned Way (WFT, SLB, HAL, BJS, BHI)
Published:
Oil field services company Weatherford International Ltd. (NYSE:WFT) announced that it has begun offering Senior Notes due in 2019. A subsidiary of Weatherford "will fully and unconditionally guarantee the notes on a senior unsecured basis." The company plans to use the proceeds, as yet unspecified, to repay its short-term debt.
The company made the announcement yesterday and its stock price gainedmore than 10%. Other services companies have also seen recent shareprice gains. Schlumberger Ltd. (NYSE:SLB) has gained more than 15% inthe last five days, while Halliburton (NYSE:HAL) is up about 12%, BJServices (NYSE: BJS) is up more than 15%, Baker Hughes (NYSE: BHI) isup about 18%, and Weatherford is up more than 25%.
Energy companies have been touted as the place to be for 2009. Lookslike everybody is trying to get on the elevator at the same time. Didanyone check to see if the elevator is going up?
Paul Ausick
January 6, 2009
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
