SLB announced successful early tender results for its previously initiated debt exchange offer, with a significant portion of existing SISA notes tendered. Specifically, $394.428 million of 2034 Notes, $382.552 million of 2033 Notes, $309.302 million of 2028 Notes, and $793.042 million of 2030 Notes were tendered for exchange.
The Maximum Exchange Amount for the new SHC notes was amended from $2,000,000,000 to $1,879,324,000 to accommodate all validly tendered notes. This ensures that all notes tendered at or before the early tender time will be accepted for exchange.
Consents for proposed amendments to the indentures governing the existing SISA notes were received for more than 50% of the aggregate outstanding principal amount of each series. The early settlement date for the exchange is expected to be March 17, 2025, marking a swift progression of the financial restructuring.
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