Noble Corporation announces $500 million senior notes offering due 2034

Noble Corporation plc (NYSE: NE) announced that its wholly owned subsidiary Noble Finance II LLC commenced an offering of $500 million in aggregate principal amount of unsecured senior notes due 2034. The notes will be guaranteed by certain direct and indirect restricted subsidiaries of the issuer.

The company stated it intends to use the net proceeds from the offering, together with cash on hand, to redeem all outstanding 8.500% Senior Secured Second Lien Notes due 2030 issued by Diamond Foreign Asset Company and Diamond Finance, LLC, both wholly owned subsidiaries of Noble Corporation. The redemption is expected to be conditioned on completion of the offering.

The notes are being offered in the United States only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, and to persons outside the United States in compliance with Regulation S under the Securities Act. The notes have not been registered under the Securities Act.

Noble Corporation is an offshore drilling contractor for the oil and gas industry. The company owns and operates a fleet of offshore drilling units focused on ultra-deepwater and high specification jackup drilling opportunities in established and emerging regions worldwide. Noble and its predecessors have been engaged in contract drilling of oil and gas wells since 1921.

The information is based on a company press release statement.

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