Obligation Weatherford Global Ltd 5.5% ( US947076AB16 ) en USD

Weatherford Global Ltd

100 % ⇌

Etas-Unis

US947076AB16 ( en USD )

5.5% par an ( paiement semestriel )

15/02/2016 - Obligation échue

Prospectus brochure de l'obligation Weatherford International Ltd US947076AB16 en USD 5.5%, échue

1 000 USD

350 000 000 USD

947076AB1

BB+ ( Spéculatif )

Ba1 ( Spéculatif )

Weatherford International plc est une société mondiale de services pétroliers et gaziers fournissant des équipements, des produits chimiques et des services aux compagnies pétrolières et gazières.

L'obligation de type US947076AB16, également identifiée par le code CUSIP 947076AB1, émise par Weatherford International Ltd, une entité basée aux États-Unis, représentait une composante notable du marché de la dette. Ce titre de créance, libellé en USD, présentait un taux d'intérêt nominal de 5.5% et constituait une émission d'une taille totale de 350 000 000 USD, avec une taille minimale à l'achat fixée à 1 000 USD. Les paiements d'intérêts étaient effectués deux fois par an. Il est essentiel de noter que cette obligation est arrivée à échéance le 15 février 2016 et a été intégralement remboursée à sa valeur nominale de 100%. Au moment de son existence, le titre bénéficiait de notations de crédit de BB+ par Standard & Poor's (S&P) et Ba1 par Moody's, plaçant cette obligation dans la catégorie spéculative (high-yield) en raison de ces classifications par les agences de notation.

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424B2 1 h32676d2e424b2.htm WEATHERFORD INTERNATIONAL LTD. - 333-116655
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Table of Contents
Filed Pursuant to Rule 424(b)(2)
Registration No. 333-116655
Prospectus Supplement
February 14, 2006
(To prospectus dated July 7, 2004)
$350,000,000

Weatherford International Ltd.
5.50% Senior Notes due 2016
Fully and Unconditionally Guaranteed By Weatherford International,
Inc.

We will pay interest on the notes on February 15 and August 15 of each year, beginning August 15, 2006. The
notes will mature on February 15, 2016. We may redeem some of the notes from time to time or all of the notes at
any time at the redemption prices set forth in this prospectus supplement.
The notes will be our unsecured senior obligations and will rank equally with all of our other unsecured senior
indebtedness from time to time outstanding.
The notes are fully and unconditionally guaranteed on a senior unsecured basis by one of our operating
subsidiaries, Weatherford International, Inc. The guarantee by Weatherford International, Inc. will rank equal in right
of payment to all of Weatherford International, Inc.'s existing and future unsecured and unsubordinated
indebtedness. This guarantee may be terminated and reinstated under certain circumstances as described in this
prospectus.
Investing in the notes involves risks. Please read "Risk Factors" beginning on page S-6 of this prospectus
supplement and page 6 of the accompanying prospectus.

Per Note

Total

Public offering price(1)

99.575%

$
348,512,500

Underwriting discount

.650%

$
2,275,000

Proceeds, before expenses, to us

98.925%

$
346,237,500

(1)
Plus accrued interest from February 17, 2006, if settlement occurs after that date.
Neither the Securities and Exchange Commission nor any state securities commission has approved or
disapproved of these securities or determined if this prospectus supplement or the accompanying prospectus is
truthful or complete. Any representation to the contrary is a criminal offense.
The notes will be ready for delivery in book-entry form only through The Depository Trust Company on or about
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February 17, 2006.
Joint Book-Running Managers
Banc of America Securities LLC
Morgan Stanley & Co. Incorporated
UBS Investment Bank
Co-Manager
Merrill Lynch & Co.
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TABLE OF CONTENTS

Prospectus Supplement
About This Prospectus Supplement

S-ii
Where You Can Find More Information

S-iii
Prospectus Supplement Summary

S-1
Risk Factors

S-6
Use of Proceeds

S-8
Capitalization

S-9
Ratios of Earnings to Fixed Charges

S-10
Unaudited Pro Forma Condensed Combined Financial Information

S-10
Description of Notes

S-15
Book-Entry, Delivery and Form

S-19
Underwriting

S-21
Legal Matters

S-22
Experts

S-23
Prospectus
About This Prospectus

1
Where You Can Find More Information

2
Forward-Looking Statements

3
Weatherford International Ltd.

5
Weatherford International, Inc.

5
Risk Factors

6
Use of Proceeds

9
Ratios of Earnings to Fixed Charges

10
Description of Our Debt Securities

11
Description of Weatherford Delaware's Debt Securities

19
Description of Share Capital

20
Description of Warrants

24
Description of Units

25
Certain Tax Considerations

26
Plan of Distribution

37
Legal Matters

39
Experts

39
S-i
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Table of Contents
ABOUT THIS PROSPECTUS SUPPLEMENT
In this prospectus supplement, unless otherwise indicated, when we refer to Weatherford Bermuda or use words
such as "we" or "us", we are generally referring to Weatherford International Ltd. and its subsidiaries as a whole or
on a division basis, depending on the context in which the statements are made. When we refer to Weatherford
Delaware, we are referring to Weatherford International, Inc., our predecessor company and our wholly owned,
indirect subsidiary, which has irrevocably and unconditionally guaranteed the notes on a senior unsecured basis.
This prospectus supplement is part of a registration statement that we have filed with the Securities and Exchange
Commission, or SEC, using a "shelf" registration process. Under this shelf registration process, we are offering to
sell the notes using this prospectus supplement and the accompanying prospectus. This prospectus supplement
describes the specific terms of the note offering. The accompanying prospectus gives more general information,
some of which may not apply to this offering. If the description of the offering varies between this prospectus
supplement and the accompanying prospectus, you should rely on the information in this prospectus supplement.
Consent under the Exchange Control Act of 1972 (and its related regulations) has been obtained from the
Bermuda Monetary Authority for the issue and transfer of our loan notes to and between non-residents of Bermuda
for exchange control purposes, provided our shares remain listed on an appointed stock exchange, which includes the
New York Stock Exchange. This prospectus supplement and the accompanying prospectus will be filed with the
Registrar of Companies in Bermuda in accordance with Bermuda law. In granting such consent and in accepting this
prospectus supplement and the accompanying prospectus for filing, neither the Bermuda Monetary Authority nor the
Registrar of Companies in Bermuda accepts any responsibility for our financial soundness or the correctness of any
of the statements made or opinions expressed in such documents.
You should rely only on the information contained or incorporated by reference in this prospectus supplement
and the accompanying prospectus. We have not, and the underwriters have not, authorized any other person to
provide you with different information. If anyone provides you with different or inconsistent information, you should
not rely on it. We are not, and the underwriters are not, making an offer to sell these securities in any jurisdiction
where the offer or sale is not permitted. You should assume that the information appearing in this prospectus
supplement, the accompanying prospectus and the documents incorporated by reference is accurate only as of their
respective dates. Our business, financial condition, results of operations and prospects may have changed since those
dates.
S-ii
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Table of Contents
WHERE YOU CAN FIND MORE INFORMATION
We file reports and other information with the SEC. You may read our SEC filings at the SEC's website at www.
sec.gov. You may also read and copy documents at the public reference room maintained by the SEC at
100 F Street, N.E., Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for further information on the
public reference room.
The SEC allows us to "incorporate by reference" the information we file with them, which means that we can
disclose to you important information contained in other documents filed with the SEC by referring you to those
documents. The information incorporated by reference is an important part of this prospectus supplement and the
accompanying prospectus. Information we later file with the SEC will automatically update and supersede this
information. We incorporate by reference the documents listed below and any future filings made with the SEC
under Sections 13(a), 13(c), 14, or 15(d) of the Securities Exchange Act of 1934 (the Exchange Act) after the date of
this prospectus supplement through the termination of the registration statement of which this prospectus supplement
is a part. Please read the following documents incorporated by reference to this prospectus supplement and
accompanying prospectus:

· our annual report on Form 10-K for the year ended December 31, 2004 filed with the SEC on March 11, 2005;

· the amendment, on Form 10-K/ A, to our annual report for the year ended December 31, 2004 filed with the
SEC on June 14, 2005;

· our quarterly report on Form 10-Q for the quarter ended March 31, 2005 filed with the SEC on May 6, 2005;

· our quarterly report on Form 10-Q for the quarter ended June 30, 2005 filed with the SEC on August 1, 2005;

· our quarterly report on Form 10-Q for the quarter ended September 30, 2005 filed with the SEC on November 9,
2005;

· our current reports on Form 8-K filed (but only to the extent filed, and not to the extent "furnished" within the
meaning of SEC regulations) on the following dates in 2005: January 20 and 25, February 18, March 7 and 11,
June 6 (as amended June 9), July 8 and 28, August 29, September 7 (as amended November 2), October 5, 27
and 31, and December 2, 12 and 28; and

· all documents we file under Section 13(a), 13(c), 14, or 15(d) of the Exchange Act between the date of this
prospectus supplement and the termination of the registration statement of which this prospectus supplement is
a part.
If the information in incorporated documents conflicts with information in this prospectus supplement, you
should rely on the most recent information. If the information in an incorporated document conflicts with information
in another incorporated document, you should rely on the most recent incorporated document.
You may request a copy of these filings at no cost, by writing or telephoning us at the following address:
Weatherford International Ltd., 515 Post Oak Boulevard, Suite 600, Houston, Texas 77027, Attention: Investor
Relations (telephone number: (713) 693-4000). If you have any other questions regarding us, please contact our
Investor Relations Department in writing at the above address or at the above telephone number or visit www.
weatherford.com. Information on our website is not incorporated by reference in this prospectus supplement or the
accompanying prospectus.
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Table of Contents
PROSPECTUS SUPPLEMENT SUMMARY
This summary highlights information appearing in other sections of this prospectus supplement or the
accompanying prospectus. It may not contain all of the information that you should consider before investing in
our notes. You should read the entire prospectus supplement, the accompanying prospectus and the documents
incorporated by reference carefully, including the financial statements and the footnotes to those financial
statements contained in those documents.
Weatherford
Our Business
Weatherford is one of the largest global providers of innovative mechanical solutions, technology and
services for the drilling and production sectors of the oil and gas industry. We operate in over 100 countries and
employ more than 25,100 people worldwide.
Our principal executive offices are located at 515 Post Oak Boulevard, Suite 600, Houston, Texas 77027-
3415. Our telephone number at that location is (713) 693-4000.
Recent Developments
On August 25, 2005, we entered into a revolving credit agreement with UBS Loan Finance LLC, Bank of
America, N.A. and Morgan Stanley Senior Funding, Inc., under which we may borrow up to $1.2 billion
outstanding at any time. The facility matures August 23, 2006, and is subject to mandatory commitment
reductions if we undertake certain types of capital markets transactions, including this offering. In this
prospectus supplement, we refer to this agreement as our "bridge facility".
On August 29, 2005, we redeemed all of our remaining outstanding Zero Coupon Convertible Senior
Debentures due 2020. On August 26, 2005, an aggregate of $367.4 million principal amount at maturity of those
debentures were tendered for conversion, at the option of the holders, into an aggregate of approximately
3.7 million of our common shares. We redeemed the remaining $531.6 million aggregate principal amount at
maturity. At the redemption price of $642.91, the aggregate redemption cost to us was $341.8 million. We
funded $240 million of that amount through a borrowing on our bridge facility and the remaining
$101.8 million with available cash.
On August 31, 2005, we acquired Precision Drilling Corporation's Energy Services Division and
International Contract Drilling Division for US$942.7 million in cash (based on then current exchange rates)
and 26 million of our common shares. In this prospectus supplement, we refer to this transaction as the
"Precision acquisition" The cash portion of the Precision acquisition was funded through borrowings under our
bridge facility.
On October 25, 2005, we initiated a commercial paper program for the issuance of short-term unsecured
notes in an aggregate amount not to exceed $1.5 billion. In this prospectus, we refer to this program as our "CP
program". We have used the CP program to repay all borrowings under the bridge facility.
On December 9, 2005, we sold 6.75 million shares of Universal Compression Holdings, Inc.'s common
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stock for a net price of $41.00 per share or total net proceeds of $276,750,000, constituting our entire holdings
of Universal.
On December 28, 2005, we announced that our Board of Directors had approved a share repurchase
program that authorizes us to repurchase up to $1 billion of our common shares from time to time as market
conditions warrant.
S-1
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Document Outline

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