Noble Energy Inc. (NBL) intends to issue an undetermined amount of 10-year bonds in the U.S. bond market Monday, according to a person familiar with the issue.

The bonds are registered with the Securities and Exchange Commission and are expected to be rated Baa2 by Moody's Investors Service and BBB by Standard & Poor's.

The Houston-based independent energy company plans to use the funds to repay $400 million outstanding under a revolving credit facility, and for general corporate purposes.

The $400 million under its revolving credit facility was used to repay outstanding borrowings under a previous credit facility, according to the SEC filing. That facility had been used to fund a $327 million installment payment related to the acquisition of a 50% interest in certain oil and natural gas properties in the Marcellus shale, as well as a capital contribution related to the development of those properties, the filing says.

Lead underwriters on the deal are Citigroup and J.P. Morgan.
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