secwatch.observer — SEC 8-K summary
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Issuer:     Noble Corp plc (NE)
CIK:        0001895262
Form:       8-K
Filed at:   2022-11-29T23:59:59+00:00
Accession:  0001193125-22-294359
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Noble enters $350M secured term loan to refinance $1.55B existing facility
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- $350M term loan at Term SOFR + 3.5% margin, step-ups of 0.15% after 1yr and 0.25% after 2yr.
- Maturity 3 years from funding date; quarterly repayments: first four of $2.5M, next four of $7.5M, final four of $12.5M, with $260M balloon.
- Expected to fund before year-end 2022; secured by mortgages on drilling rigs acquired from The Drilling Company of 1972.
- Proceeds to refinance the $1.55B existing DNB facility dated December 2018.
- Includes financial covenants: max leverage ratio, min equity ratio and liquidity, plus 200% collateral rig coverage test.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1895262/000119312522294359/0001193125-22-294359-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1895262/000119312522294359/d424915d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-294359

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