Shell to Exchange $6.3B of Restricted Notes for Registered Notes
SHEL•Shell plc accepted $6.298101 billion aggregate principal of restricted notes across six series—including $2.060368 billion of 6.375% due 2038 and $885.241 million of 3.875% due 2028—for exchange into an equal amount of new registered notes. Settlement is scheduled for July 13, 2026.
1. Exchange Offer Outcomes
Shell plc’s exchange offers accepted $6.298101 billion in restricted notes issued by Shell Finance US and fully guaranteed by Shell plc at par. Each validly tendered and accepted note will be replaced on a one-for-one basis with new registered notes under the June 8 prospectus.
2. Series Tender Details
The offers covered six series: 3.875% notes due 2028 ($885.241 million), 6.375% notes due 2038 ($2.060368 billion), 5.500% notes due 2040 ($801.303 million), 5.125% notes due 2041 ($680.997 million), 3.125% notes due 2049 ($993.464 million) and 3.000% notes due 2051 ($876.728 million). Tendered amounts closely matched the outstanding principal for each series.
3. Settlement and Next Steps
Settlement of the exchange notes is set for July 13, 2026, with D.F. King & Co. serving as exchange and information agent. No additional offers or sales will occur where such exchanges would violate local securities regulations.
