11:38 AM EST, 02/27/2025 (MT Newswires) -- Schlumberger ( SLB ) said Thursday its Schlumberger Holdings unit initiated a debt exchange offer for up to $2 billion in total principal amount of notes.

The offer allows holders to exchange certain outstanding notes issued by Schlumberger Investment for new notes issued by Schlumberger Holdings, which will be fully and unconditionally guaranteed by SLB.

The notes include 5.000% senior notes due 2034; 4.850% senior notes due 2033; 4.500% senior notes due 2028; and 2.650% senior notes due 2030, the company said, adding that the exchange offers will expire on March 27.

Holders who tender their notes by the March 12 early deadline will qualify for the early exchange consideration, which includes the total exchange consideration and an early exchange premium.

The early settlement date is expected to be March 17, while the final settlement date is anticipated around March 31, the company added.

Shares of Schlumberger ( SLB ) were up nearly 2% in recent trading.

Price: 41.28, Change: +0.67, Percent Change: +1.66