Nabors Industries Ltd. announced the early tender results of the previously announced offers by its wholly-owned subsidiary, Nabors Industries Inc. to purchase for cash up to $800,000,000 aggregate purchase price, exclusive of Accrued Interest of NII’s outstanding notes . The terms and conditions of the Tender Offers and the Consent Solicitations are described in the Offer to Purchase and Consent Solicitation Statement dated January 6, 2020 . Terms used but not defined herein have the meaning ascribed to them in the Offer to Purchase and Consent Solicitation. In connection with the announcement of the early tender results, NII also announced that it has increased the Aggregate Maximum Purchase Price from $800,000,000 to an aggregate maximum purchase price of $955,555,152.50, increased the 5.10% Notes Tender Cap from $100,000,000.00 to $155,555,900.00 and added a purchase price cap of $388,260,632.50 to the 4.625% Notes. Based on results to date, as all conditions to the Tender Offers and Consent Solicitations were deemed satisfied by NII by the Early Tender Date or timely waived by NII, NII expects to make payment on January 22, 2020 for the Notes it has accepted for purchase as of the Early Tender Date. Subject to the acceptance priority levels, the Amended Aggregate Maximum Purchase Price, the Amended 5.10% Notes Tender Cap and the 4.625% Notes Tender Cap and proration, NII will accept all tendered 5.50% Notes, $379,717,000 principal amount (89.52%) of tendered 4.625% Notes and all tendered 5.10% Notes. Because the aggregate purchase price of 5.50% Notes, 4.625% Notes and 5.10% Notes validly tendered at or prior to the Early Tender Date and accepted for purchase equals the Amended Aggregate Maximum Purchase Price, there will not be a Final Settlement Date, no 5.00% Notes will be accepted for purchase and no Notes tendered after the Early Tender Date will be accepted for purchase. All Notes which are not accepted for purchase pursuant to the Tender Offers will be promptly returned to the Holder of such series of Notes. Each Holder who validly tendered their Notes prior to the Early Tender Date and whose Notes are accepted for purchase will receive the Total Consideration plus accrued and unpaid interest from the applicable last interest payment date to, but not including, the Early Settlement Date. Withdrawal rights for the Tender Offers expired at 5:00 p.m. (Eastern Time) on the Early Tender Date. Nabors also announced that NII has received consents from Holders of a majority of the outstanding aggregate principal amount of its 5.50% Notes to approve proposed amendments to the indenture dated December 9, 2016 among NII, as issuer, Nabors, as guarantor, Wilmington Trust Company, as trustee, and Citibank, N.A., as securities administrator, pursuant to which the 5.50% Notes were issued. Following the receipt of the Requisite Consents, NII, Nabors, the Trustee and Citi will execute a supplemental indenture to the 5.50% Indenture to amend the Indenture to, among other things, eliminate substantially all of the restrictive covenants, certain events of default, and reduce the minimum notice period required for redemptions of the 5.50% Notes from 20 days as currently required by the Indenture to 3 business days. The 5.50% Supplemental Indenture will become effective upon its execution and delivery, and will be binding on Holders of the 5.50% Notes, including those who did not deliver a consent at or prior to the Early Tender Date. As a result of the proration of the 4.625% Notes at the Early Tender Date, the related consents delivered with respect to the 4.625% Notes are null and void and the proposed amendments to the indenture governing the 4.625% Notes will not be effected.