Noble Corp plc (NE): debt financing — Noble Corp issues $600M 8% senior notes due 2030; amends revolver to $550M

Noble Corp plc

Noble Finance II issued $600M of 8.000% Senior Notes due April 15, 2030, interest semi-annual.
Senior unsecured notes guaranteed by certain subsidiaries; change-of-control put at 101%.
Existing $675M revolver amended and restated to $550M; interest margins 2.75%-3.75% (SOFR).
Financial covenants: interest coverage >=2.50x, total net leverage <=3.00x quarterly.
Facility secured by liens on substantially all assets, including rigs generating >=80% revenue.

item 1.01 item 2.03 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 amended revolving credit of $550.0 million with JPMorgan Chase Bank, N.A..

Instrument: revolving credit
Principal: $550.0 million
Counterparty: JPMorgan Chase Bank, N.A.
Event: amendment

Exact text from the filing

the revolving credit facility under the A&R Credit Agreement (the “Revolving Credit Facility”) provides for commitments of $550.0 million

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

Noble Corp plc incurred senior notes of $600,000,000 with U.S. Bank Trust Company, National Association at 8.000% per annum maturing April 15, 2030.

Instrument: senior notes
Principal: $600,000,000
Counterparty: U.S. Bank Trust Company, National Association
Rate: 8.000% per annum
Maturity: April 15, 2030
Event: incurrence

Exact text from the filing

issued $600,000,000 in aggregate principal amount of the Issuer’s 8.000% Senior Notes due 2030

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Noble Corp plc entered into Amended and Restated Senior Secured Revolving Credit Agreement with JPMorgan Chase Bank, N.A. valued at $550.0 million (effective 2023-04-18).

Action: entry
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Value: $550.0 million
Effective: 2023-04-18

Exact text from the filing

by entering into an Amended and Restated Senior Secured Revolving Credit Agreement, dated April 18, 2023 (the “A&R Credit Agreement”), by and among the Issuer, Noble International Finance Company and Noble Drilling A/S, as borrowers

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Noble Corp plc entered into Indenture with U.S. Bank Trust Company, National Association valued at $600,000,000 (effective 2023-04-18).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $600,000,000
Effective: 2023-04-18

Exact text from the filing

entered into an indenture (the “Indenture”), pursuant to which the Issuer issued $600,000,000 in aggregate principal amount of the Issuer’s 8.000% Senior Notes due 2030 (the “2030 Notes”).

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101 debt financings filed in the last 30 days. Browse all debt financings →

Noble Corp plc filing history →

Source: SEC EDGAR

accession 0001193125-23-104963

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