8-KOther EventsExhibits & Filings

SLB LIMITED/NV 8-K Report, Corporate Update (May 15, 2023)

Filed May 15, 2023For Securities:SLB

Summary

SLB Limited/NV (SLB) announced the issuance of $1 billion in aggregate principal amount of senior notes through its subsidiary, Schlumberger Investment S.A. This issuance includes $500 million of 4.500% Senior Notes due 2028 and $500 million of 4.850% Senior Notes due 2033. These notes are fully and unconditionally guaranteed by the parent company, SLB, providing an additional layer of credit support for investors. The issuance was conducted under a registration statement filed with the SEC, indicating compliance with regulatory requirements for public offerings. This debt offering is significant as it raises substantial capital for the company. Investors considering these notes should note the fixed interest rates and maturity dates, which offer predictable income streams and repayment schedules. The guarantee from SLB, a leading global technology company in the energy industry, is a key factor for assessing the creditworthiness of these notes. The specific terms, including covenants and events of default, are detailed in the Underwriting Agreement and the accompanying Indenture, which have been filed as exhibits to this 8-K.

Key Highlights

  • 1SLB issued $1 billion in aggregate principal amount of senior notes.
  • 2The issuance consists of $500 million in 4.500% Senior Notes due 2028.
  • 3The issuance also includes $500 million in 4.850% Senior Notes due 2033.
  • 4The notes are issued by Schlumberger Investment S.A. and guaranteed by SLB.
  • 5The offering was conducted under a registration statement on Form S-3.
  • 6The notes were sold pursuant to an underwriting agreement with several major investment banks.
  • 7The debt offering is being documented under a Third Supplemental Indenture to an existing Indenture.

Frequently Asked Questions

This 8-K filing is primarily to report the issuance of $1 billion in senior notes by SLB's subsidiary, Schlumberger Investment S.A., and to file related documents such as the Underwriting Agreement and the Third Supplemental Indenture. These filings are necessary to comply with SEC regulations and to provide investors with transparency regarding the new debt offering.

The new senior notes are fully and unconditionally guaranteed by the parent company, Schlumberger Limited (SLB). This guarantee means that SLB is directly responsible for the payment obligations of the notes if the issuer, Schlumberger Investment S.A., were unable to do so.

The notes carry fixed coupon rates: 4.500% for the notes due in 2028 and 4.850% for the notes due in 2033. Investors will receive semi-annual interest payments until the respective maturity dates.

Investors can find detailed information in the 'Description of the Notes' section of the prospectus supplement dated May 8, 2023, and the 'Description of Debt Securities' section of the base prospectus dated May 8, 2023, both filed with the SEC. Additionally, the Underwriting Agreement and the Third Supplemental Indenture (including the form of the Notes) are filed as exhibits to this 8-K filing.