Noble Energy Inc. launched a cash tender offer to buy any and all of its $1 billion of 4.15% senior notes due 2021.
Note holders who validly tender before the expiration date would receive a consideration, which would be identified by reference to a fixed spread of 35 basis points and the Treasury yield of 2.75%, according to a Sept. 24 news release. They would also get accrued and unpaid interest from the interest payment on June 15 up to but excluding the settlement date.
The tender offer is scheduled to expire Sept. 30, unless extended or earlier terminated. The oil and gas company expects to settle payment for the notes Oct. 1.
MUFG Securities Americas Inc. is the dealer manager, and Global Bondholder Services Corp. is the depositary and information agent for the tender offer.
Noble Energy's oil and gas exploration and production operations are focused in the DJ and Delaware basins.
