Houston, Aug. 08, 2017 (GLOBE NEWSWIRE) -- Noble Energy, Inc. (NYSE: NBL) ("Noble Energy" or "the Company") today announced that it has priced an offering of $600 million of 3.850% senior notes that will mature on January 15, 2028 ("the 2028 notes"), and $500 million of 4.950% senior notes that will mature on August 15, 2047 ("the 2047 notes"), pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission. The price to the public for the 2028 notes and the 2047 notes are 99.688% and 99.643% of the principal amounts, respectively.
The Company intends to use the net proceeds from the offering, together with cash on hand or available liquidity, to purchase in a cash tender offer or otherwise redeem any and all of its outstanding $1 billion 8.25% senior notes and to pay fees, premiums, expenses and unpaid and accrued interest related to the tender offer or redemption.
The offering is expected to close on August 15, 2017, subject to customary closing conditions. Citigroup Global Markets Inc., J.P. Morgan Securities LLC, MUFG Securities Americas Inc., DNB Markets, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated
and Mizuho Securities USA LLC served as joint book-running managers for the offering. The offering is being made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, (or telephone toll-free at 800-831-9146 or e-mail at email@example.com), J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attention: Investment Grade Syndicate Desk (or
telephone collect at 212-834-4533) or MUFG Securities Americas, Inc,1221 Avenue of the Americas, 6th Floor New York, NY 10020 (or telephone at 877-649-6848). An electronic copy of the prospectus supplement will be available on the website of the Securities and Exchange Commission at www.sec.gov.
This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. This announcement shall
not constitute a notice of redemption under the indenture governing the Notes.
Noble Energy (NYSE: NBL) is an independent oil and natural gas exploration and production company with a diversified high-quality portfolio of both U.S. unconventional and global offshore conventional assets spanning three continents. Founded more than 80 years ago, the company is committed to safely and responsibly delivering our purpose: Energizing the World, Bettering People's Lives®.
Forward Looking Statements
This news release contains certain "forward-looking statements" within the meaning of federal securities laws. Words such as "anticipates", "believes", "expects", "intends", "will", "should", "may", and
similar expressions may be used to identify forward-looking statements. Forward-looking statements are not statements of historical fact and reflect Noble Energy's current views about future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, without limitation, the effects of global, national and regional economic and market conditions, changes in the financial markets and interest rates, the volatility in commodity prices for crude oil and natural gas, the ability to consummate the senior notes offering, tender offer or redemption and other risks inherent in Noble Energy's businesses that are discussed in Noble Energy's most recent annual report on Form 10-K and in other Noble Energy reports on file with the
Securities and Exchange Commission. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Noble Energy does not assume any obligation to update any forward-looking statements should circumstances or management's estimates or opinions change.
Source: Noble Energy Inc.
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