SLB subsidiary commences offer to exchange certain outstanding existing series of notes for up to $2.0 billion aggregate principal amount of new series of notes
NEW YORK--BUSINESS WIRE--
Schlumberger Limited ("SLB") (NYSE: SLB) today announced that Schlumberger Holdings Corporation, an indirect wholly owned subsidiary of SLB ("SHC"), has commenced offers to exchange certain series of notes listed below (the "Existing SISA Notes"), issued by Schlumberger Investment S.A. ("SISA"), for up to $2,000,000,000 aggregate principal amount (such amount, as it may be amended, the "Maximum Exchange Amount") of new notes listed below (the "New SHC Notes"), to be issued by SHC, and to be fully and unconditionally guaranteed on a senior unsecured basis by SLB. The offers to exchange each series of Existing SISA Notes for the corresponding series of New SHC Notes are collectively referred to herein as the "Offers." The Offers are made upon the terms and subject to the conditions set forth in the exchange offer memorandum and consent solicitation statement, dated February 27, 2025 (as may be amended or supplemented from time to time, the "Exchange Offer Memorandum"). Capitalized terms used but not defined in this press release have the meanings given to them in the Exchange Offer Memorandum.
Title of Existing SISA Notes |
CUSIP / ISIN |
Aggregate Principal Amount Outstanding |
Acceptance Priority Level(1) |
Total Exchange Consideration(2) |
Early Exchange Premium(2) |
Exchange Consideration(3) |
||||||
5.000% Senior Notes due 2034 |
806854 AM7 / US806854AM76 |
$500,000,000 |
1 |
$1,000 principal amount of New SHC 5.000% Senior Notes due 2034 |
$8.00 in cash |
$970 principal amount of New SHC 5.000% Senior Notes due 2034. |
||||||
4.850% Senior Notes due 2033 |
806854 AL9 / US806854AL93 |
$500,000,000 |
2 |
$1,000 principal amount of New SHC 4.850% Senior Notes due 2033 |
$7.50 in cash |
$970 principal amount of New SHC 4.850% Senior Notes due 2033. |
||||||
4.500% Senior Notes due 2028 |
806854 AK1 / US806854AK11 |
$500,000,000 |
3 |
$1,000 principal amount of New SHC 4.500% Senior Notes due 2028 |
$4.00 in cash |
$970 principal amount of New SHC 4.500% Senior Notes due 2028. |
||||||
2.650% Senior Notes due 2030 |
806854 AJ4 / US806854AJ48 |
$1,250,000,000 |
4 |
$1,000 principal amount of New SHC 2.650% Senior Notes due 2030 |
$5.00 in cash |
$970 principal amount of New SHC 2.650% Senior Notes due 2030. |
