Nabors Industries Ltd Waiver Enables $100M Redemption of 2030 Notes

What Happened
Nabors Industries Ltd (NBR) filed an 8-K reporting that on July 23, 2026 it and its wholly owned subsidiary Nabors Industries, Inc. entered into a waiver with Citibank, N.A., as administrative agent, and the lenders under the amended and restated credit agreement (A&R Credit Agreement). The waiver temporarily removes restrictions in the A&R Credit Agreement and permits Nabors Industries, Inc. to optionally redeem up to $100.0 million aggregate principal amount of its 9.125% senior priority guaranteed notes due 2030. The partial redemption is expected to occur on August 12, 2026.

Key Details

• Waiver date: July 23, 2026; A&R Credit Agreement originally dated June 17, 2024.
• Permits an optional partial redemption of up to $100.0 million in aggregate principal of the 9.125% senior priority guaranteed notes due 2030.
• Expected redemption date: August 12, 2026.
• The waiver agreement is filed as Exhibit 10.1 to the Form 8-K.

Why It Matters
The waiver removes a contractual barrier that would have prevented the company from redeeming a portion of its 2030 notes. If Nabors proceeds with the $100M redemption, the company will reduce its outstanding long-term debt and future interest obligations on that portion of the notes, which can affect leverage and interest expense metrics reported to investors. Investors should note the timing (expected August 12, 2026) and size ($100M) of the action; the 8-K does not disclose the funding source for the redemption or any other financial impacts beyond the waiver itself.