The aggregate principal amounts of several series of Rosetta Resources Inc. (ROSE) notes exchanged for new notes to be issued by Noble Energy Inc. (NBL) were validly tendered on the offers’ early consent date of July 13, the company said July 14. The exchange offers will expire on July 27.
Rosetta’s 5.625% notes ($700 million aggregate principal amount) due May 1, 2021 were exchanged for identical Noble notes; similarly, $600 million of 5.875% notes due June 1, 2022 were exchanged and $500 million of 5.875% notes due June 1, 2024 were exchanged.
Valid consents from a majority of noteholders for each series of notes, and fulfillment of acquisition of all Rosetta common stock through the merger of Rosetta with a Noble subsidiary, are conditional for the exchange offers, Noble said.
Each company’s obligations to complete the merger are subject to certain conditions including approval of the merger by majority of Rosetta common stockholders.
A registration statement Form S-4 filed with the Securities and Exchange Commission on June 29 has not yet been declared effective, Noble said.
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