Shell (SHEL) said Monday it has commenced offers to exchange validly tendered and accepted notes of certain series of outstanding unregistered notes issued by Shell Finance US.
The exchange offers allow holders to exchange up to the entire aggregate principal amount of each series of restricted notes for an equal principal amount of the corresponding series of exchange notes, the company said.
The exchange notes will represent the same debt as the restricted notes, and Shell will issue the exchange notes under the same indenture that governs the applicable series of restricted notes, according to the company.
Shell said it will accept for exchange all restricted notes validly tendered and not withdrawn prior to 5:00 pm ET on July 8, unless extended.
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