Schlumberger Limited has announced that Schlumberger Oilfield UK Plc will redeem all of the outstanding principal amount of its 4.2% Senior Notes which are due in 2021, according to a press release.
The total outstanding price of the Notes is reported to be $600 million and the Notes’ set redemption date is June 29. The Notes will be redeemed at a redemption price for the Notes equal to 100% of the aggregate principal amount. Furthermore, it will be equal to the accrued and unpaid on the Notes from the last interest payment date up until but not including the redemption date. Finally, a make-whole premium will be calculated three business days prior to the redemption date in accordance with the terms of the Notes and the indenture governing the Notes.
The Notes are currently listed on the Official List of the Luxembourg Stock Exchange and were admitted to trading on the Euro MTF market.