Noble to use new senior notes to repay $350 million term loan facility

Chicago, April 3 – Noble Corp. plc announced that it would be using the proceeds of a $600 million offering of new senior notes due 2030 to repay its $350 million term facility borrowed by subsidiary Drilling Co. of 1972 A/S, according to a press release.

The loan was reported in December 2022 as a secured term loan with a three-year maturity, according to the Prospect News archive.

Part of the proceeds from the new notes will also be used for the redemption of 11%/13%/15% senior secured PIK toggle notes due 2028 issued by Noble Finance Co., another subsidiary of Noble.

Noble is an offshore drilling contractor organized in London.

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