Business Wire

SLB Announces Pricing of Debt Tender Offer

Share

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The Total Consideration for Notes validly tendered (and not validly withdrawn) at or prior to the Early Tender Time (as defined below) and accepted for purchase is calculated using the applicable Fixed Spread (as set forth in the table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SHC is accepting for purchase all Notes with Acceptance Priority Levels 1 and 2 validly tendered (and not validly withdrawn) at or prior to the Early Tender Time, for an aggregate purchase price amount, including premium but excluding any Accrued Interest, of $790,122,939.54.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.

Slb.com/newsroom

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

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

Business Wire
Business Wire



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

Bureau Veritas: Strong Start to the Year; 2024 Outlook Confirmed25.4.2024 09:20:00 CEST | Press release

Q1 2024 Key figures1 › Revenue of EUR 1,439.5 million in the first quarter of 2024, up 2.5% year-on-year and up 8.0% organically › Strong organic growth from Industry +16.3%, Certification +13.7%, Marine & Offshore +13.6%, compared to the first quarter of 2023; growth of +6.1% for Consumer Products Services, +3.6% for Buildings & Infrastructure and +3.2% for Agri-food & Commodities › The scope effect was a positive 0.1%, reflecting bolt-on acquisitions offset by a small disposal › The currency impact was negative by 5.6% mainly due to the depreciation of some emerging countries’ currencies against the euro Q1 2024 Highlights › New strategy LEAP | 28, announced on March 20, 2024, to deliver a step change in growth and performance, built around three pillars: Focused Portfolio, Performance-led execution and Evolved People model › Strong growth in every region (Americas, Middle East, Africa, Asia-Pacific and Europe), outperforming many underlying markets › Growth momentum maintained for s

New CPS Protection Platform: TXOne Networks Presents SageOne in Hannover25.4.2024 09:04:00 CEST | Press release

TXOne Networks, a leading company in the field of cyber-physical systems (CPS) security, will be presenting its new CPS security platform during the Hannover Messe from 22nd to 26th April 2024 at stand B06 in hall 16: SageOne, which means Wise Man Number One. This central management console provides an overview of the CPS attack surface of the OT environment. All three TXOne product lines can be centrally controlled, namely Stellar for endpoint protection, Element for security inspection and Edge for network defense. The platform offers integrated OT security across the entire lifecycle of the objects to be protected and enables reliable detection and response to threats. SageOne essentially covers three main pillars: CPS Attack Surface Management: Visibility is a cornerstone for cybersecurity. A clear view of the overall security posture helps identify security focal points in an OT environment. SageOne focuses on operational security by honing in on assets and illuminating the securi

Infobip becomes an Oracle Independent Software Vendor partner25.4.2024 09:00:00 CEST | Press release

Infobip, a global cloud communications platform and a member of Oracle PartnerNetwork (OPN), today announced it has enhanced its relationship with Oracle, becoming an Independent Software Vendor (ISV) with access to Oracle Integration Cloud. Businesses using any Oracle solution can access Infobip’s omnichannel platform through Oracle Cloud Marketplace (OCM). They can quickly orchestrate powerful interactions, help increase customer satisfaction, boost sales, and improve campaign performance. Oracle Cloud Marketplace is a one-stop shop for Oracle customers seeking trusted business applications and services offering unique solutions, including ones that extend Oracle Fusion Cloud Applications. Infobip’s communication channels will enable businesses to deliver conversational experiences across many sectors including banking and financial services, retail and ecommerce, and hospitality and leisure. Through Infobip’s collaboration, Oracle users will gain customer insights, enabling them to

Global CIOs geared up to scale AI but organizations aren’t as ready25.4.2024 05:00:00 CEST | Press release

AI is the CIO’s top priority, according to findings of Lenovo’s third annual global CIO report. Inside the Tornado: How AI is Reshaping Corporate IT Today, reveals that while CIOs need to adopt and scale AI urgently, their ambitions are threatened by speed, security, and other organizational functions lagging in AI readiness. In a stark contrast to previous years, CIOs are tabling non-traditional responsibilities to sharpen their focus on core IT functions. Slightly more than half (51%) of CIOs feel AI/ML is an urgent priority to address, matched only by cybersecurity. This urgency is directly correlated to the pressure that CIOs are under to drive business impact, rather than operational maintenance and preservation. 84% of CIOs revealed they are being evaluated on business outcome metrics more than ever before. “Today’s CIOs are working in a tornado of innovation. After years of IT expanding into non-traditional responsibilities, we’re now seeing how AI is forcing CIOs back to their

Mundipharma acquires all assets and rights related to REZZAYO ® (rezafungin) , reinforcing continued commitment to management of infectious diseases and specialty care therapeutic area24.4.2024 22:01:00 CEST | Press release

Mundipharma* today announced the acquisition of all assets and rights related to rezafungin globally from Cidara Therapeutics. This provides Mundipharma with global ownership of rezafungin including ongoing development and distribution. Rezafunginis a novel once-weekly echinocandin indicated for the treatment of invasive candidiasis in adults.1 Invasive candidiasis, is a severe, life-threatening infection of the bloodstream and/or deep/visceral tissues.2,3 It affects seriously ill people, especially those with a weakened immune systemand the mortality rate can be 40%4 or more.5,6 It can place a large burden on the healthcare system, with the potential for extended treatment regimens and long hospital stays.6 Over the last 15 years, there have been no new treatments and morbidity and mortality rates remain largely the same, indicating the need for alternative treatment options.7,8 “This acquisition places Mundipharma in the best position to realise the full potential of rezafungin inclu

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
HiddenA line styled icon from Orion Icon Library.Eye