07:38 AM EDT, 10/04/2024 (MT Newswires) -- Shell (SHEL) said Friday it had accepted an aggregate princpal amount of $11.46 billion of notes validly tendered under its recent exchange offer to accept up to $12 billion maximum principal amount of old notes.

The notes being tendered were from its twelve series of notes issued by Shell International Finance, in exchange for a combination of cash and a corresponding series of new notes to be issued by Shell Finance US, guaranteed by Shell plc ( SHEL ).

The exchange was offered to migrate the old notes from Shell International Finance to Shell Finance US to align indebtedness with its US business, the company said.

The aggregate principal amount of the notes accepted were based on priority levels. Because the notes tendered and validly accepted exceeded the offer's maximum principal amount at the time of the offer's expiration at 5 pm ET Thursday, no notes from priority levels 9 through 12 were accepted for exchange, the company said.

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