SUGAR LAND, Texas, Nov. 18 TX-NE-PricesOffering
SUGAR LAND, Texas, Nov. 18 /PRNewswire-FirstCall/ -- Noble Corporation
(NYSE: NE) announced today that its indirect wholly-owned subsidiary, Noble
Holding International Limited ("NHIL"), has priced an offering of $250 million
aggregate principal amount of 7.375% Senior Notes due 2014. Noble will fully
and unconditionally guarantee the notes on a senior unsecured basis.
The estimated net proceeds of approximately $247.2 million are expected to
be used to repay $150 million of long-term debt of a subsidiary of Noble that
matures in March 2009 and outstanding balances under Noble's unsecured
revolving bank credit facility, in each case plus accrued interest. The
remaining proceeds are expected to be used for general corporate purposes.
Goldman, Sachs & Co., Citigroup Global Markets Inc. and SunTrust Robinson
Humphrey, Inc. are acting as the book-running managers. Barclays Capital Inc.,
DnB NOR Markets, Inc., Fortis Securities LLC, HSBC Securities (USA) Inc.,
Mitsubishi UFJ Securities International plc and Wells Fargo Securities, LLC
are serving as co-managers. Copies of the prospectus supplement and prospectus
may be obtained from Goldman, Sachs & Co. at 85 Broad Street, Attention:
Prospectus Department, New York, New York 10004 (tel: 212-902-1171).
This press release does not constitute an offer to sell or a solicitation
of an offer to buy any securities. Offers of securities will be made only by
means of a prospectus supplement and prospectus filed with the U.S. Securities
and Exchange Commission. The prospectus and prospectus supplement are part of
a shelf registration statement that has become effective under the U.S.
Securities Act of 1933, as amended.
Noble is a leading offshore drilling contractor for the oil and gas
industry. Noble performs, through its subsidiaries, contract drilling services
with a fleet of 63 offshore drilling units (including five rigs currently
under construction) located worldwide, including in the Middle East, India,
the U.S. Gulf of Mexico, Mexico, the North Sea, Brazil, and West Africa.
Noble's ordinary shares are traded on the New York Stock Exchange under the
symbol "NE".
NHIL is an indirect, wholly-owned subsidiary of Noble. NHIL performs,
through its subsidiaries, contract drilling services with a fleet of 44
offshore drilling units (including five rigs currently under construction)
located worldwide, principally in the Middle East, India, Mexico, the North
Sea, Brazil, and West Africa. All of NHIL's active fleet is currently
deployed internationally.
SOURCE Noble Corporation
