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    National Oilwell Varco, Inc.

    A Locke Lord team led by Eric Johnson (Houston) advised National Oilwell Varco, Inc. (NOV) in a $500 million public offering of 3.60% senior notes due 2029, together with an amendment to NOV’s credit agreement and a pending redemption of a portion of NOV’s 2.60% senior notes due 2022. According to NOV, these transactions extend the maturity on $500 million of existing debt, allow for a near-term paydown of up to $500 million in debt and demonstrates NOV’s commitment to further reduce leverage by at least $400 million by December 2022. For more information, see the press release. Additional assistance was provided by Michael Blankenship, Laura L. Ferguson, Berne Kluber, Tammi Niven, Gerry Pels, Buddy Sanders, Matt McKenna, John Niedzwiecki and Ben Smolij (all of Houston), Rob Evans (New York) and Stanley Keller, John Whitlock and Megan Foscaldi (all of Boston).
    Posted on November 14, 2019

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