Oilfield services and supply company Smith International Inc., Houston, a subsidiary of Schlumberger Ltd. (NYSE: SLB) reports the expiration and final results of its tender offer to purchase for cash up to a maximum payment amount of $1 billion for its outstanding 8.625% notes due 2014; its 6% senior notes due 2016; and its 9.75% notes due 2019. Citi, JPMorgan and Morgan Stanley are deal managers.

The aggregate principal amount of the 8.625% notes validly tendered and not validly withdrawn was approximately $73 million, representing 24.33% of the $300 million aggregate principal amount of the 8.625% notes outstanding. The aggregate principal amount of the 6% senior notes validly tendered and not validly withdrawn was $87.5 million, representing 31.82% of the $275 million aggregate principal amount of the 6% senior notes outstanding. The aggregate principal amount of the 9.75% notes validly tendered and not validly withdrawn was approximately approximately $149.4 million, representing 21.34% of the $700 million aggregate principal amount of the 9.75% notes outstanding.

The company has accepted for purchase all notes validly tendered and not validly withdrawn pursuant to the tender offer. Approximately $227 million aggregate principal amount of the 8.625% notes, $187.5 million aggregate principal amount of the 6.00% senior notes and $550.6 million aggregate principal amount of the 9.75% notes, respectively, remain outstanding.

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