Noble Energy Announces Pricing of Offering of $600 Million of Senior Notes Due 2028 and $500 Million of Senior Notes Due 2047...
August 08 2017 - 6:26PM
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 prospectus@citi.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.
Investor Contacts:
Brad Whitmarsh
(281) 943-1670
brad.whitmarsh@nblenergy.com
Megan Repine
(832) 639-7380
megan.repine@nblenergy.com
Megan Dolezal
(281) 943-1861
megan.dolezal@nblenergy.com
Media Contacts:
Reba Reid
(713) 412-8441
media@nblenergy.com
Deena McMullen
(281) 943-1732
media@nblenergy.com
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