By Cristal Cody
Tupelo, Miss., Aug. 4 – Schlumberger Investment SA priced a $350 million reopening of its 2.65% notes due June 26, 2030 (A2/A) on Tuesday at a spread of Treasuries plus 173 basis points, according to a market source.
The notes were talked to price at the Treasuries plus 180 bps to 185 bps area.
Citigroup Global Markets Inc. was the bookrunner.
Schlumberger originally sold $900 million of the notes on June 17 at 99.608 to yield 2.695%, or Treasuries plus 195 bps. The total outstanding is now $1.25 billion.
The issue is guaranteed by Schlumberger Ltd.
Proceeds will be used for general corporate purposes, including the repayment of outstanding commercial paper.
Schlumberger is a Houston-based oilfield services company. The issuer is based in Luxembourg.
| Issuer: | Schlumberger Investment SA
|
| Guarantor: | Schlumberger Ltd.
|
| Amount: | $350 million reopening
|
| Maturity: | June 26, 2030
|
| Description: | Senior notes
|
| Bookrunner: | Citigroup Global Markets Inc.
|
| Coupon: | 2.65%
|
| Spread: | Treasuries plus 173 bps
|
| Call features: | Make-whole call at Treasuries plus 30 bps before March 26, 2030; thereafter at par
|
| Trade date: | Aug. 4
|
| Settlement date: | Aug. 11
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 180 bps-185 bps area
|
| Total outstanding: | $1.25 billion, including $900 million of notes priced June 17 at 99.608 to yield 2.695%, or Treasuries plus 195 bps
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
