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The Total Consideration for Notes validly tendered (and not validly withdrawn) at or prior to the Early Tender Time (as defined below) and accepted for purchase is calculated using the applicable Fixed Spread (as set forth in the table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SHC is accepting for purchase all Notes with Acceptance Priority Levels 1 and 2 validly tendered (and not validly withdrawn) at or prior to the Early Tender Time, for an aggregate purchase price amount, including premium but excluding any Accrued Interest, of $790,122,939.54.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
Sharjah Ruler Receives Portugal’s Grand Collar of Order of Camões31.1.2026 19:27:00 EET | Press release
His Excellency Marcelo Rebelo de Sousa, President of the Portuguese Republic, awarded His Highness Sheikh Dr Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, the Grand Collar of the Order of Camões (Grande Colar da Ordem de Camões), the highest sovereign cultural order in Portugal. His Highness is the first Arab figure to receive the Order of Camões and the sixth recipient worldwide. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260131119526/en/ Sharjah Ruler receives Portugal’s Grand Collar of Order of Camões (Photo: AETOSWire) The honour was conferred during a ceremony hosted by the Portuguese President at the Presidential Palace in Lisbon. The event was attended by Sheikha Bodour bint Sultan Al Qasimi, Chairperson of the Sharjah Book Authority, alongside senior officials. The ceremony recognised His Highness’s prominent global stature, as a leading figure in culture, intellectual thought and in
Incyte Announces Positive CHMP Opinion for Zynyz ® (retifanlimab) for First-Line Treatment of Advanced Squamous Cell Carcinoma of the Anal Canal (SCAC)30.1.2026 16:29:00 EET | Press release
Incyte (Nasdaq:INCY) today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has issued a positive opinion recommending the approval of Zynyz® (retifanlimab) in combination with carboplatin and paclitaxel (platinum-based chemotherapy) for the first-line treatment of adult patients with metastatic or with inoperable locally recurrent squamous cell carcinoma of the anal canal (SCAC). “Today’s positive CHMP opinion is an important step towards addressing the urgent need for new treatment options for patients in Europe with advanced SCAC, a disease which has seen limited innovation for decades,” said Lee Heeson, Executive Vice President and Head of Incyte International. “If approved, Zynyz in combination with platinum-based chemotherapy has the potential to become a new standard-of-care for patients living with this rare and difficult-to-treat cancer.” The positive CHMP opinion was based on data from the Phase 3 POD1UM-303/Inter
Mediawan to Acquire The North Road Company, Creating a New Global Independent Content Platform30.1.2026 14:32:00 EET | Press release
Mediawan, the leading independent European studio led by Pierre-Antoine Capton, co-founded by Capton, Xavier Niel and Matthieu Pigasse, today announced the signing of an agreement to acquire The North Road Company (“North Road”), the preeminent independent U.S.-based studio founded by Peter Chernin. The combination creates one of the world’s largest independent studios with major creative hubs in the five continents and capabilities spanning all genres, formats and audiences. Together, Mediawan and North Road will have a stronger ability to accelerate the development of powerful IP, foster fresh creative synergies through format adaptations and co-production opportunities, and deliver ever greater value to viewers, talent and partners worldwide. The acquisition brings together two of the most dynamic independent studios in the sector with world-class creative talent, premium IP, and the scale to deliver content at the highest level. In an industry undergoing significant consolidation,
BrightSign Powers Intelligent Signage Experiences at ISE 202630.1.2026 10:00:00 EET | Press release
With more industries embracing the power of visual storytelling, BrightSign, the provider of the most advanced, capable, and trusted digital media players and operating system, will showcase the latest developments in digital signage technology at ISE 2026 in Barcelona, Spain from February 3-6, 2026. BrightSign’s latest innovations come to life at booth #4S-150 through interactive real-world demos featuring retail, QSR, transportation, and corporate use cases. Visitors can test new AI-powered object detection capabilities of BrightSign players, allowing them to pick up an object and see the content on the screen respond immediately. Booth activations will be powered by BrightSign’s reliable platform including bsn.Control, BrightSignOS™, brightAuthor connected, and its global partner ecosystem. “In today’s immersive, personalized and visual world, the stakes have never been higher for powerful, secure, reliable, and intelligent digital signage,” said Steve Durkee, chief executive office
Candela Ushers in a New Era of Aesthetic Innovation at IMCAS Paris With the Launch of the Glacē™ System30.1.2026 09:30:00 EET | Press release
Candela, a global leader in energy-based aesthetic technologies, today announced the European launch of the Glacē™ System, a facial treatment platform that signals a bold new chapter for the company and the future of aesthetic medicine. In addition to the launch of the Glacē System, Candela will also showcase its Matrix system for radiofrequency-based skin renewal and its iconic Vbeam® Pro vascular treatment platform at IMCAS 2026. Both Matrix and VBeam Pro platforms are currently available in select EMEA markets and are expected to be comprehensively launched shortly, further strengthening Candela’s leadership in the energy-based device market. Unveiled at the IMCAS World Congress 2026, these launches underscore Candela’s continued commitment to delivering innovative, science-backed treatment solutions for high-demand patient needs. Candela leads the industry in clinical efficacy and safety, supported by one of the largest bodies of published clinical data backed by decades of clinica
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
