Embattled services player Weatherford International has upsized its proposed debt offering from $500 million to $540 million to help pay down its near-term debt.
Switzerland-based Weatherford is selling the senior notes due 2024 via a private placement and will use proceeds to retire debt drawn from its revolving credit facility.
Last week, long-time Weatherford chief executive Bernard Durco-Danner stepped down from his post, effective immediately.
Duroc-Danner
