SLB Announces Pricing of Debt Tender Offer
7.12.2022 00:05:00 EET | Business Wire | Press release
SLB (NYSE: SLB) today announced the consideration payable in connection with the previously announced offer (the “Offer”) by Schlumberger Holdings Corporation, an indirect wholly-owned subsidiary of SLB (“SHC”), to purchase for cash up to a certain amount of the notes listed in the table below (the “Notes”), pursuant to the terms and subject to the conditions set forth in the offer to purchase, dated November 21, 2022 (as may be amended or supplemented from time to time, the “Offer to Purchase”). Capitalized terms used but not defined in this press release have the meanings given to them in the Offer to Purchase.
|
Title of Security |
CUSIP Numbers |
Acceptance Priority Level(1) |
Principal Amount Outstanding |
Principal Amount to be Purchased |
Early Tender Premium(1) |
Reference Security |
Bloomberg Reference Page |
Reference Yield |
Fixed Spread (basis points) |
Total Consideration (1)(2) |
|
3.750% Senior Notes due 2024 |
806851AJ0 (144A) / U8066LAG9 (Reg S) |
1 |
$750,000,000 |
$394,869,000 |
$30 |
2.500% U.S. Treasury Notes due 04/30/2024 |
FIT 4 |
4.733% |
+20 |
$984.18 |
|
4.000% Senior Notes due 2025 |
806851AG6 (144A) / U8066LAE4 (Reg S) |
2 |
$932,597,000 |
$409,252,000 |
$30 |
4.500% U.S. Treasury Notes due 11/15/2025 |
FIT 1 |
4.126% |
+55 |
$981.06 |
| _______________ | ||
|
(1) |
Per $1,000 principal amount. |
|
|
(2) |
The Total Consideration for Notes validly tendered (and not validly withdrawn) at or prior to the Early Tender Time (as defined below) and accepted for purchase is calculated using the applicable Fixed Spread (as set forth in the table above) and is inclusive of the Early Tender Premium (as set forth in the table above). |
|
SHC is accepting for purchase all Notes with Acceptance Priority Levels 1 and 2 validly tendered (and not validly withdrawn) at or prior to the Early Tender Time, for an aggregate purchase price amount, including premium but excluding any Accrued Interest, of $790,122,939.54. No additional Notes will be accepted after the Early Tender Time. As previously disclosed, no notes with Acceptance Priority Levels 3 and 4 will be accepted for purchase.
All documentation relating to the Offer, including the Offer to Purchase, together with any updates, are available from the Tender and Information Agent (as defined below) and are also available at the following website: http://www.dfking.com/slb.
Subject to satisfaction or waiver of the General Conditions by such date, all Notes validly tendered (and not validly withdrawn) at or prior to the Early Tender Time and accepted for purchase will be purchased by SHC on the “Early Settlement Date,” which is expected to occur on December 8, 2022. All Holders of Notes that are purchased will receive, in addition to the applicable Total Consideration, a cash amount equal to the accrued and unpaid interest on the Notes, from, and including, the immediately preceding interest payment date up to, but excluding, the Early Settlement Date, rounded to the nearest cent per $1,000 principal amount of Notes.
The Offer is scheduled to expire at 11:59 p.m., New York City time, on December 19, 2022 (unless the Offer is extended or terminated) (such date and time, the “Expiration Time”). Withdrawal rights expired at 5:00 p.m., New York City time, on December 5, 2022. Notes that have been tendered may no longer be withdrawn.
Subject to applicable law and limitations described in the Offer to Purchase, SHC expressly reserves the right, in its sole discretion, to amend, extend or, upon failure of any condition described in the Offer to Purchase to be satisfied or waived, to terminate the Offer at any time at or prior to the Expiration Time.
SHC has retained Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC to act as the Dealer Managers in connection with the Offer (collectively, the “Dealer Managers”). Questions regarding terms and conditions of the Offer should be directed to Deutsche Bank Securities Inc. by calling toll free at (866) 627-0391 or collect at (212) 250-2955, or to J.P. Morgan Securities LLC by calling toll free at (866) 834-4666 or collect at (212) 834-3424.
D.F. King & Co., Inc. has been appointed as tender and information agent (the “Tender and Information Agent”) in connection with the Offer. Questions or requests for assistance in connection with the Offer or for additional copies of the Offer to Purchase, may be directed to D.F. King & Co., Inc. by calling toll free (800) 290-6424 or collect at (212) 269-5550 or via e-mail at slb@dfking.com. You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Offer. The Offer to Purchase can be accessed at the following website: http://www.dfking.com/slb.
Neither this press release nor the Offer to Purchase, or the electronic transmission thereof, constitutes an offer to sell or buy Notes, as applicable, in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such offer or solicitation under applicable securities laws or otherwise. The distribution of this press release in certain jurisdictions may be restricted by law. In those jurisdictions where the securities, blue sky or other laws require the Offer to be made by a licensed broker or dealer and the Dealer Managers or any of their respective affiliates is such a licensed broker or dealer in any such jurisdiction, the Offer shall be deemed to be made by the Dealer Managers or such affiliate (as the case may be) on behalf of SHC in such jurisdiction.
About SLB
SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the federal securities laws, which include any statements that are not historical facts. Such statements often contain words such as “expect,” “may,” “can,” “plan,” “potential,” “expectations,” “estimate,” “intend,” “anticipate,” “target,” “think,” “should,” “could,” “would,” “will,” “see,” “likely,” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as statements regarding the expected timing for completion of the Offer. SLB and SHC cannot give any assurance that such statements will prove correct. These statements are subject to, among other things, the risks and uncertainties detailed in SLB’s most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should SLB’s underlying assumptions prove incorrect, actual results or outcomes may vary materially from those reflected in the forward-looking statements. The forward-looking statements speak only as of November 21, 2022, and SLB and SHC disclaim any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221205005758/en/
Contact information
Media
Moira Duff – Director of External Communication, SLB
Tel: +1 (713) 375-3407
Email: media@slb.com
Investors
Ndubuisi Maduemezia – Vice President of Investor Relations, SLB
Joy V. Domingo – Director of Investor Relations, SLB
Tel: +1 (713) 375-3535
Email: investor-relations@slb.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
CYNREN Launches Next Generation Advisory Firm Serving Family Offices, Funds and Institutions8.5.2026 14:00:00 EEST | Press release
CYNREN today announced its launch as an independent international advisory firm, built for a world where capital, technology and geopolitics now heavily intersect. Unlike traditional consulting firms, CYNREN combines institutional capability and experience with the agility of a true challenger model to operate at the highest level of advisory and execution. CYNREN was co-founded by Anthony Cowell, Sunil Nair and Scott Lennon, specializing in family office, fiduciary and directorship roles, board-level strategy, impact and philanthropic structuring and complex risk consulting. The firm is partner-led around the moments that matter most, with AI embedded from inception to enable sharper insights and more informed outcomes while remaining grounded in human judgement. Operating globally through a network of senior advisors, investors and partners, CYNREN serves clients across the globe. Cowell was previously a Global Lead Engagement Partner with KPMG, Regional Head of Asset Management and
Telekom Srbija Secures U.S. EXIM Financing to Accelerate 5G Rollout8.5.2026 12:48:00 EEST | Press release
Telekom Srbija Group today announced that the Export-Import Bank of the United States (EXIM) has granted final approval for financing to support the continued rollout of Telekom Srbija’s 5G network. The EXIM-supported financing will help fund the deployment of 5G telecommunications network equipment and related services in Serbia, supplied by U.S. technology companies. It marks a major milestone in Telekom Srbija’s long-term investment programme and strengthens the company’s relationship with leading U.S. financial and technology institutions. Telekom Srbija launched commercial 5G services in Serbia in December 2025 and is continuing to expand coverage nationwide. The company is targeting 5G coverage across all Serbian cities by the end of 2026, with full national coverage by the end of 2027. The financing follows EXIM’s preliminary commitment in December 2024 to support the preparation and rollout of Telekom Srbija’s 5G network, and marks a further step in Telekom Srbija’s cooperation
Philip Morris International’s Moira Gilchrist Positions Human Judgment as a Critical Leadership Advantage Amid Rapid AI Adoption at Wall Street Journal Forum8.5.2026 11:00:00 EEST | Press release
Philip Morris International’s (PMI) (NYSE:PM) Chief Global Communications Officer, Moira Gilchrist, joined global thought leaders at The Wall Street Journal’s Future of Everything conference in New York to examine why human cognition—judgment, context, creativity, and ethical reasoning—is becoming the most valuable asset in an age of artificial intelligence. “The AI boom is putting a premium on distinctly human capabilities,” said Gilchrist, who took part in the session “Cognition: The New Currency – Why Human Judgment Matters More Than Ever.” Speaking to attendees, she emphasized that, “As knowledge is getting democratized, human judgment, intuition, and creativity become the true differentiators that leaders need to nurture across all levels of their organizations.” Philip Morris International is today a different company, built with a singular objective: achieving a smoke-free future. It has evolved its product portfolio, reskilled its workforce, and adopted new ways of working to e
Fortegra Appoints Iwan Röpcke as Chief Executive Officer, Belgium8.5.2026 10:30:00 EEST | Press release
The Fortegra Group, Inc., a global specialty insurer, today announced the appointment of Iwan Röpcke as Chief Executive Officer, Belgium. Mr. Röpcke brings more than 25 years of insurance industry experience to the role, spanning broking, commercial leadership, and executive management across the Benelux and broader European markets. He joins Fortegra from Lloyd’s Insurance Company S.A., where he served as Country Manager for Belgium and the Netherlands, building out the operation from its early stages and overseeing both business strategy and development. Prior to Lloyd's, Mr. Röpcke held senior leadership positions at Willis Towers Watson (via Gras Savoye), where he served as Head of Sales and Head of the Competence Center. His career also includes roles at Inter Partner Assistance (AXA Assistance) as Commercial Director Benelux, Winterthur Europe Assurances, AIG Europe, Aon Belgium, and Marsh. Mr. Röpcke’s industry expertise spans a range of specialty risk areas, with deep relations
KAYTUS Launches All-QLC Flash Storage at AI EXPO 2026 for 10,000-GPU Clusters8.5.2026 10:02:00 EEST | Press release
At AI EXPO KOREA 2026, KAYTUS officially launched its All-QLC Flash Storage Solution, engineered to deliver high performance, massive scalability, and cost efficiency for 10,000-GPU clusters. The solution addresses data-delivery bottlenecks in ultra-large-scale AI training, helping maximize GPU resource utilization. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260508313130/en/ Based on the KR2280 and KR1180 server platforms, the solution is deeply integrated with industry-leading AI-native parallel file systems to eliminate data silos inherent in traditional tiered storage. Purpose-built for read-intensive AI workloads, it overcomes the horizontal scaling limitations of massive clusters. Verified test-data shows that, at exabyte-scale deployment, the solution delivers 10 TB/s aggregate bandwidth and 100 million IOPS. In addition, it reduces five-year TCO by 70% compared with traditional TLC-based solutions, accelerating mo
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom
