Noble Initiates Notes Offering

Noble, an offshore drilling contractor, said Tuesday that its subsidiary, Noble Holding International, has commenced an offering of senior unsecured notes. Terms of the offering were not yet available.

The company intends to use the net proceeds for debt repayments and/or for general corporate purposes.
Separately, the company launched a cash tender offers to purchase of its outstanding 4.9% senior notes due 2020, 4.625% senior notes due 2021 and 3.95% senior notes due 2022 for a maximum tender amount of $500 million.

The company will pay an early tender premium of $30 per $1,000 principal amount of notes. The tender offers will expire at the end of the day on Jan. 11, unless extended or terminated.

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