Noble Energy Inc. priced its cash tender offer for any and all of its $1 billion of 4.15% senior notes due 2021.
For each $1,000 of notes validly tendered before the expiration date of Sept. 30, noteholders will get a total consideration of $1,041.29, according to an Oct. 1 news release. The consideration was identified by reference to a fixed spread of 35 basis points and the Treasury yield of 2.75%.
As of Sept. 30, Noble had garnered about $742.6 million in valid tenders, or roughly 74.26% of the 2021 notes. The company expects to make payment for the validly tendered notes and deliver a redemption notice for those that remain outstanding Oct. 1. All remaining outstanding notes are set to be redeemed Oct. 31.
Noble's oil and gas exploration and production operations are focused on the DJ and Delaware basins.
