Noble Finance II Commences Offering Of $600 Mln Of Unsecured Senior Notes Due 2030

(RTTNews) - Noble Corporation plc (NE) said that its subsidiary, Noble Finance II LLC, has commenced an offering of $600 million in aggregate principal amount of unsecured senior notes due 2030.

Noble noted that it plans to use the net proceeds from the Offering (i) to fund the redemption of all of the outstanding 11%/ 13%/ 15% Senior Secured PIK Toggle Notes due 2028 issued by Noble Finance Company, a wholly-owned subsidiary of Parent, (ii) to pay any premiums, fees and expenses related to the Redemption and the issuance of the 2030 Notes, (iii) to repay the outstanding borrowings under the $350 million term loan facility borrowed by Parent's subsidiary, The Drilling Company of 1972 A/S and (iv) the remainder, if any, for general corporate purposes.

The 2030 Notes will be guaranteed by certain direct and indirect restricted subsidiaries of Noble Finance.