Noble Corp plc (NE): debt financing — Noble closes $350M secured term loan, repays $460M legacy Maersk facility

Noble Corp plc

Borrowed full $350M under new 3-year secured term loan at Term SOFR + 3.50%, with margin increases from year 2.
Proceeds plus cash on hand used to repay and terminate legacy $1.55B credit facility that had $460M outstanding.
New facility provides significant financial flexibility, per CEO Robert W. Eifler.
Refinancing closed Dec 22, 2022; prior facility was originally dated Dec 6, 2018.

item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Noble Corp plc incurred term loan of $350,000,000 with DNB Bank ASA (as Agent).

Instrument: term loan
Principal: $350,000,000
Counterparty: DNB Bank ASA (as Agent)
Event: incurrence

Exact text from the filing

On December 22, 2022 the Utilisation Date (as defined in the New DNB Credit Facility) occurred under the New DNB Credit Facility, and the Borrower borrowed the full $350,000,000 available thereunder.

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Source: SEC EDGAR

accession 0001193125-22-311101

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