Noble Energy starts tender for 8.25% notes due 2019

New York Aug. 8 – Noble Energy, Inc. announced a tender offer for its $1 billion of 8.25% senior notes due 2019.

The company is offering an amount that will be set using a spread of 50 basis points over the 1.375% Treasury due July 31, 2019, according to a news release.

Holders will also receive accrued interest up to but excluding the settlement date.

Tenders must be submitted before the expiration date of 5 p.m. ET on Aug. 14. Settlement will follow on Aug. 15. Pricing is set for 2 p.m. ET on Aug. 14.

Completion of the tender is subject to conditions including that the company raises sufficient funds from a debt financing to cover the cost of the tender.

Noble Energy plans to redeem any notes outstanding after the tender is completed.

Citigroup (800 558-3745 or 212 723-6106) is dealer manager. Global Bondholder Services Corp. (212 430-3774 or 866 470-3700) is information agent.

Noble Energy is a Houston-based oil and natural gas exploration and production company.

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