SUGAR LAND, Texas, Dec. 22, 2022 /PRNewswire/ -- Noble Corporation
plc ("Noble") (CSE: NOBLE, NYSE: NE) today announced that it has
closed a new $350 million secured
term loan with a syndicate of banks. The new loan has a
three-year maturity and an initial interest rate of Term SOFR plus
3.50%, with margin increases beginning in year two.
Additionally, Noble has paid down and terminated the legacy
Maersk Drilling syndicated revolving credit facility and term loan,
which had approximately $460 million
outstanding, using proceeds from the new syndicated term loan and
cash on hand.
Robert W. Eifler, Noble's
President and Chief Executive Officer, commented, "We are pleased
to have completed the refinancing of the syndicated bank facilities
with a new term loan, which affords us significant financial
flexibility. We appreciate the strong support from our bank
group and remain encouraged by the outlook for our business as we
head into 2023."
Additional details can be found in a Current Report on Form 8-K
to be filed with the SEC. You may obtain these documents for
free on the Noble website or by visiting EDGAR or the SEC website
at www.sec.gov.
About Noble Corporation
Noble is a leading offshore
drilling contractor for the oil and gas industry. The Company
owns and operates one of the most modern, versatile, and
technically advanced fleets in the offshore drilling
industry. Noble and its predecessors have been engaged in the
contract drilling of oil and gas wells since 1921. Noble
performs, through its subsidiaries, contract drilling services with
a fleet of offshore drilling units focused largely on
ultra-deepwater and high specification jackup drilling
opportunities in both established and emerging regions worldwide.
For further information visit www.noblecorp.com or email
investors@noblecorp.com.
IMPORTANT INFORMATION
This announcement is for
information purposes only and does not constitute or contain any
invitation, solicitation, recommendation, offer or advice to any
person to subscribe for or otherwise acquire or dispose of any
securities of Noble.
Certain statements in this announcement, including any
attachments hereto, may constitute forward-looking statements.
Forward-looking statements are statements (other than statements of
historical fact) relating to future events and Noble and its
subsidiaries (collectively, the "Noble Group") anticipated or
planned financial and operational performance. The words "targets",
"believes", "continues", "expects", "aims", "intends", "plans",
"seeks", "will", "may", "might", "anticipates", "would", "could",
"should", "estimates", "projects", "potentially" or similar
expressions or the negatives thereof, identify certain of these
forward-looking statements. The absence of these words, however,
does not mean that the statements are not forward-looking. Other
forward-looking statements can be identified in the context in
which the statements are made.
Although Noble believes that the expectations reflected in these
forward-looking statements are reasonable as of the date of this
announcement, such forward-looking statements are based on Noble's
current expectations, estimates, forecasts, assumptions and
projections about the Noble Group's business and the industry in
which the Noble Group operates and/or which has been extracted from
publications, reports and other documents prepared by the Noble
Group and are not guarantees of future performance or development
and involve known and unknown risks, uncertainties and other
important factors beyond the Noble Group's control that could cause
the Noble Group's actual results, performance or achievements to
differ materially from any future results, performance or
achievements expressed or implied by such forward-looking
statements.
Any forward-looking statements included in this announcement,
including any attachment hereto, speak only as of today. Noble does
not intend, and does not assume, any obligations to update any
forward-looking statements contained herein, except as may be
required by law or the rules of the New York Stock Exchange or
Nasdaq Copenhagen. All subsequent written and oral forward-looking
statements attributable to Noble or to persons acting on its behalf
are expressly qualified in their entirety by the cautionary
statements referred to above and contained in this announcement,
including any attachment hereto.
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