Noble Energy Announces Pricing of Offering of $500 Million of Senior Notes Due 2029 and $500 Million of Senior Notes Due 2049
25 September 2019 - 4:03AM
Business Wire
Noble Energy, Inc. (NYSE: NBL) (“Noble Energy” or “the
Company”) today announced that it has priced an offering of $500
million of 3.250% senior notes that will mature on October 15, 2029
(“the 2029 notes”), and $500 million of 4.200% senior notes that
will mature on October 15, 2049 (“the 2049 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 2029 notes and the 2049 notes are 99.982% and
99.930% 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 aggregate principal amount of the 4.15%
senior notes due 2021 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 October 1, 2019, subject to
customary closing conditions. BofA Securities, Inc., Mizuho
Securities USA LLC and MUFG Securities Americas Inc. served as
joint book-running managers for the offering, and BMO Capital
Markets Corp., Citigroup Global Markets Inc., DNB Markets, Inc.,
J.P. Morgan Securities LLC, PNC Capital Markets LLC, Scotia Capital
(USA) Inc. and TD Securities (USA) LLC are acting as the passive
book-runners. The offering is being made only by means of a
prospectus supplement and accompanying prospectus, copies of which
may be obtained from BofA Securities, Inc., NC1-004-03-43, 200
North College Street, 3rd Floor, Charlotte, North Carolina
28255-0001, Attn: Prospectus Department (or e-mail at
dg.prospectus_requests@baml.com), Mizuho Securities USA LLC, 320
Park Avenue, 12th floor, New York, NY 10022 (or telephone at
1-866-271-7403) 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 committed to meeting
the world’s growing energy needs and delivering leading returns to
shareholders. The Company operates a high-quality portfolio of
assets onshore in the United States and offshore in the Eastern
Mediterranean and off the west coast of Africa. Founded more than
85 years ago, Noble Energy is guided by its values, its commitment
to safety, and respect for stakeholders, communities and the
environment. For more information on how the Company fulfills its
purpose: Energizing the World, Bettering People’s Lives®, visit
https://www.nblenergy.com.
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 tender offer or
redemption or the proposed debt financing 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190924005971/en/
Investor Contacts: Brad Whitmarsh (281) 943-1670
brad.whitmarsh@nblenergy.com Media Contacts: Paula Beasley (281)
876-8441 media@nblenergy.com
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