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LONDON - Shell plc (LSE:SHEL) (NYSE:SHEL) announced Tuesday that it is extending the early participation premium to all eligible holders in its previously announced exchange offers for notes issued by Shell International Finance B.V. and BG Energy Capital plc.
The company reported that as of November 17, approximately $6.22 billion in aggregate principal amount of notes had been validly tendered ahead of the early participation deadline.
Shell is now offering the early participation premium, which consists of $30 principal amount of new notes, to all eligible holders who tender their notes by the December 3 expiration time, regardless of when they were tendered.
The exchange offers involve six series of notes and are part of Shell's strategy to migrate existing debt from Shell International Finance and BG Energy Capital to Shell Finance US Inc. in order to optimize the group's capital structure and align indebtedness with its U.S. business.
Under the revised terms, eligible holders will receive $1,000 principal amount of corresponding new notes and a cash amount of $1.00 for each $1,000 principal amount of old notes tendered by the expiration time.
The settlement date is expected to be December 8, 2025, if the exchange offers are not extended.
The exchange offers are only available to qualified institutional buyers and certain non-U.S. investors who meet specific eligibility requirements. The new notes will be issued on a private placement basis by Shell Finance US Inc. and fully guaranteed by Shell plc.
The information in this article is based on a press release statement from Shell plc.
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