May 10 (Reuters) - Oilfield services provider Weatherford International Plc said on Friday it would file for Chapter 11 bankruptcy protection.
The company said it will look to enter into two debtor-in-possession financing, including a revolving credit facility of up to $750 million provided by banks or other lenders, and a loan facility of up to $1 billion. (bit.ly/2VvvO5y)
Weatherford’s shares plunged 61% to 14 cents in extended trading on Friday. (Reporting by Arathy S Nair in Bengaluru; Editing by Anil D’Silva)