Noble announced that the company has priced an offering $1.1 Billion of notes. The bonds represent $300 Million worth of 5-year notes, $400 Million worth of 10-year notes, and $400 Million worth of 30 year notes. The weighted average coupon for the entire offering is 4.71%. The reason for doing this is to simply pay down debt for the new joint-Bully venture with Shell and to pay down the revolver. This should not worry investors too much, since the company is doing this in order to provide liquidity during the defacto moratorium. I am still very exicited about the company's future prospects.
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