Houston-based Noble Energy, the developer of the natural gas resources and LNG project off Israel, signed a three-year loan deal with seven lending institutions for up to US$1.4 billion.
Provisions of the term loan agreement, including pricing and covenants, are consistent with those contained in the company’s existing $4.0 billion revolving credit facility, Noble Energy said in a statement on Thursday.
It has also launched cash tender offers with a maximum purchase price limited to US$1.4 billion.
The funds from the loan facility will be used to fund the tender offers, Noble added.
LNG World News Staff