Noble Corp. - 2011-02-01

Description

Indirect wholly owned subsidiary Noble Holding International Ltd. has priced an offering of $1.1 billion aggregate principal amount of senior notes. The notes are in three separate tranches, with $300 million of 3.05% senior notes due 2016, $400 million of 4.625% senior notes due 2021, and $400 million of 6.05% senior notes due 2041. The weighted average coupon of all three tranches is 4.71%.

Net proceeds will be used to pay the outstanding balance of parent company Noble's revolving credit facility, to pay its portion of outstanding debt under the Bully I and Bully II credit facilities, and for general corporate purposes, including to finance a portion of the company's 2011 capital program.

Barclays Capital Inc., Wells Fargo Securities LLC and SunTrust Robinson Humphrey Inc. are book-running managers. HSBC Securities (USA) Inc., Goldman, Sachs & Co., Mitsubishi UFJ Securities (USA) Inc., BNP Paribas Securities Corp., DnB NOR Markets Inc. and Citigroup Global Markets Inc. are co-managers.

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Companies
Estimated Price
$1,100.0MM
Financing Type
Report Date