SUGAR LAND, Texas, April 4, 2023 /PRNewswire/ -- Noble Corporation plc ("Parent" and together with its subsidiaries, "Noble") (CSE: NOBLE, NYSE: NE) today announced that Noble Finance II LLC (the "Company"), a wholly owned subsidiary of Parent, has priced a private offering (the "Offering") of $600 million in aggregate principal amount of new unsecured 8.000% Senior Notes due 2030 (the "2030 Notes"). Noble intends to use the net proceeds from the Offering to (i) to fund the redemption (the "Redemption") of all of the outstanding 11%/ 13%/ 15% Senior Secured PIK Toggle Notes due 2028 (the "Second Lien Notes") issued by Noble Finance Company, a wholly-owned subsidiary of Parent, (ii) 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 Offering is expected to close on or about April 18, 2023, subject to customary closing conditions.
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