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Noble Energy prices senior notes offering totaling $1.1B

Noble Energy Inc. priced an offering of $600 million of 3.850% senior notes at 99.688% of the principal amount and $500 million of 4.950% senior notes at 99.643% of the principal amount.

The 3.850% notes are set to mature on Jan. 15, 2028, while the 4.950% notes will mature on Aug. 15, 2047.

The company intends to use net proceeds from the offering, scheduled to close Aug. 15, 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 associated with the tender offer or redemption, according to an Aug. 8 news release.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC, MUFG Securities Americas Inc., DNB Markets Inc., Merrill Lynch Pierce Fenner & Smith Inc. and Mizuho Securities USA LLC acted joint book-running managers for the offering.