Noble Energy Inc. said Sept. 24 that it priced an offering of $500 million of 3.250% senior notes due 2029 and $500 million of 4.200% senior notes due 2049.
The 2029 notes will mature Oct. 15, 2029, and the price to the public is 99.982% of the principal amount, according to a release. The 2049 notes will mature Oct. 15, 2049, and the price to the public is 99.930% of the principal amount.
Noble Energy said it plans to use the funding, along with cash on hand, to purchase in a cash tender offer or redeem any and all of its $1 billion of 4.15% senior notes due 2021 and pay any related fees, premiums, expenses and interest.
Noble Energy expects to close the offering Oct. 1. Its oil and gas exploration and production operations are focused in the DJ and Delaware basins.
BofA Securities Inc., Mizuho Securities USA LLC and MUFG Securities Americas Inc. acted as joint book-running managers for the offering.
