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Published on 6/23/2020 in the Prospect News Investment Grade Daily and Prospect News Liability Management Daily.

Schlumberger announces tender results and pricing for 3.3% notes

Chicago, June 23 – Schlumberger Ltd. announced the results and pricing for the tender offer for any and all of wholly owned subsidiary Schlumberger Investment SA’s $1.6 billion 3.3% senior notes due 2021 (Cusip: 806854AB1) on Tuesday.

As of the expiration time of 5 p.m. ET on June 23, noteholders had tendered $935,224,000, or 58.45%, of the outstanding notes, according to a press release.

Earlier on Tuesday, the company announced that for each $1,000 principal amount of notes, the company will pay $1,026.06, which was determined at 2 p.m. ET on June 23 using the 0.125% Treasury due May 31, 2022 plus 40 basis points.

Holders will also receive accrued interest.

Settlement is expected for June 26.

D.F. King & Co., Inc. (800 549-6697, slb@dfking.com) is the tender agent and information agent.

Goldman Sachs & Co. LLC (212 902-6351 collect, 800 828-3182 toll-free), and J.P. Morgan Securities LLC (212 834-3424 collect, 866 834-4666 toll-free) are dealer managers, and Standard Chartered Bank and UniCredit Capital Markets LLC are co-dealer managers.

Schlumberger is a Houston-based oilfield services company. The issuer is based in Luxembourg.


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