8-KOther EventsExhibits & Filings

SLB LIMITED/NV 8-K Report, Corporate Update (Aug 11, 2020)

Filed August 11, 2020For Securities:SLB

Summary

SLB LIMITED/NV (SLB) filed an 8-K report on August 11, 2020, detailing the issuance of an additional $350,000,000 aggregate principal amount of 2.650% Senior Notes due 2030. These notes are a further issuance and fungible with the $900,000,000 of the same notes previously issued on June 26, 2020, bringing the total outstanding principal amount of these notes to $1,250,000,000. The issuance was conducted under a previously filed registration statement on Form S-3 and is fully and unconditionally guaranteed by Schlumberger Limited. This action signifies SLB's continued access to debt markets and its strategy for managing its capital structure. Investors should note the aggregate increase in debt and the fixed interest rate associated with this tranche of notes.

Key Highlights

  • 1SLB issued an additional $350 million in 2.650% Senior Notes due 2030 on August 11, 2020.
  • 2These new notes are fungible with and will trade interchangeably with the existing $900 million of the same notes issued on June 26, 2020.
  • 3The total outstanding principal amount of the 2.650% Senior Notes due 2030 now stands at $1.25 billion.
  • 4The issuance was made under a previously filed Form S-3 registration statement.
  • 5Schlumberger Limited provides a full and unconditional guarantee for these senior notes.
  • 6The notes were issued pursuant to an underwriting agreement with Citigroup Global Markets Inc. as the underwriter.
  • 7This filing includes exhibits such as the underwriting agreement and an officers' certificate related to the note issuance.

Frequently Asked Questions

This 8-K filing announces the issuance of an additional $350 million in 2.650% Senior Notes due 2030 by SLB's subsidiary, Schlumberger Investment SA. It serves to inform investors about this debt financing activity.

This issuance increases the aggregate principal amount of the 2.650% Senior Notes due 2030 by $350 million, bringing the total outstanding for this specific note series to $1.25 billion. This represents an increase in SLB's overall indebtedness.

The new notes have the same terms as the existing 2.650% Senior Notes due 2030, including the interest rate of 2.650% and maturity date of 2030. They are fungible, meaning they will be treated as part of the same debt issue and will trade interchangeably with the previously issued notes.

The full and unconditional guarantee from Schlumberger Limited provides investors with an additional layer of security, as the parent company is directly responsible for the repayment of these notes in addition to the issuing subsidiary.