Noble Energy Inc. - 2016-01-06


Entered a new three-year term loan agreement with seven lending institutions. Noble has a $4 billion revolving credit facility, and borrowings under the term loan agreement can be pre-paid in full or in part prior to its maturity without premium. Also, cash tender offers were made for 5.875% notes due 2024, 5.875% notes due 2022 and 5.625% notes due 2021, all originally assumed as part of the Rosetta Resources Inc. merger. The maximum aggregate purchase price is about $1.4 billion. Borrowings under the term loan facility will fund the tender offers. Tender offers are scheduled to expire on Feb. 3. Jan. 20 is the early tender date. The final settlement date is Feb. 4. Citigroup Global Markets Inc. and Mizuho Securities USA Inc. are the dealer managers in the tender offers. Global Bondholder Services Corp. was retained as the depositary and the information agent for these offers.

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