New Issue-Nabors Industries adds $400 mln in notes

 July 18 (Reuters) - Nabors Industries Inc, a unit of
offshore drilling contractor Nabors Industries Ltd (NBR.N: Quote, Profile, Research, Stock Buzz),
late on Thursday added $400 million to its existing 10-year
senior notes in the 144a private placement market, said IFR, a
Thomson Reuters publication.

 The total amount of the 6.15 percent notes, due Feb. 15,
2018, is now outstanding is $975 million.

 The size of the deal was decreased from an originally
planned $750 million.

 Citigroup Global Markets and UBS Investment Bank were the
joint bookrunning managers for the sale.
BORROWER: NABORS INDUSTRIES INC*
AMT $400 MLN       COUPON 6.15 PCT     MATURITY 2/15/2018   
TYPE ADD-ON NTS    ISS PRICE 97.192    FIRST PAY 8/15/2008**
MOODY'S A3         YIELD 6.549 PCT     SETTLEMENT 7/22/2008 
S&P BBB-PLUS       SPREAD 255 BPS/     PAY FREQ SEMI-ANNUAL 
FITCH A-MINUS        MORE THAN TREAS   MAKE-WHOLE CALL 35 BPS
*GUARANTEED BY NABORS INDUSTRIES LTD
**INTEREST ACCRUED FROM 2/20/2008.