Noble Corporation Completes Senior Notes Offering
Noble Corporation (NYSE: NE) has completed a public offering of $300 million aggregate principal amount of its 5.875% Senior Notes due 2013.
The net proceeds from the offering of approximately $297.5 million, after deducting underwriting discounts and commissions and expenses, were applied to repay $135 million of long-term debt plus accrued interest under the Company's unsecured revolving bank credit facility. The Company intends to use the balance of the net proceeds from the offering for other general corporate purposes.
The Company offered the Senior Notes to the public by a prospectus supplement and prospectus, which are part of a registration statement declared effective by the U.S. Securities and Exchange Commission. Goldman, Sachs & Co. acted as the book-running manager, and Simmons & Company International acted as co-manager.
Noble Corporation is a leading provider of diversified services for the
oil and gas industry. Contract drilling services are performed with the
Company's fleet of 62 mobile offshore drilling units located in key markets
worldwide. This fleet consists of 13 semisubmersibles, three dynamically
positioned drillships, 43 jackups and three submersibles. The fleet count
includes two F&G JU-2000E enhanced premium newbuildjackups under construction,
with scheduled delivery of the first unit in the third quarter of 2007 and the
second unit in first quarter of 2008. As previously announced, these units
have been contracted. Approximately 80 percent of the fleet is currently
deployed in international markets, principally including the Middle East,
Mexico, the North Sea, Brazil, West Africa and India. The Company provides
technologically advanced drilling-related products and services designed to
create value for our customers. The Company also provides labor contract
drilling services, well site and project management services, and engineering
services. The Company's ordinary shares are traded on the New York Stock
Exchange under the symbol "NE".
Manages 28 Offshore Rigs
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