Noble offers $600 million of senior notes due 2030

Chicago, April 3 – Noble Corp. plc is offering $600 million of senior notes due 2030 (//BB-), according to a press release.

The Rule 144A and Regulation S notes will be issued by wholly owned subsidiary Noble Finance II LLC.

Proceeds will be used to fund the redemption of subsidiary Noble Finance Co.’s 11%/13%/15% senior secured PIK toggle notes due 2028 and to repay the outstanding borrowings under the $350 million term loan facility borrowed by subsidiary Drilling Co. of 1972 A/S.

The remainder of proceeds, if any, will be used for general corporate purposes.

Noble is an offshore drilling contractor organized in London.

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