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Noble to buy $35.63 million of notes in $200 million capped tender
New York, April 1 – Noble Corp. plc said its indirect wholly owned subsidiary Noble Holding International Ltd. will buy a total of $35,626,000 in its tender offer for two series of notes.
The company will pay an aggregate purchase price of $23,988,520, according to a news release.
Noble was offering to pay up to $200 million to buy back the notes.
The note series covered by the offer are the company’s $500 million principal amount of 4.9% senior notes due 2020 and its $400 million principal amount of 4.625% senior notes due 2021. The 4.9% notes had first priority of acceptance.
Noble accepted tenders for $32,238,000 of the 4.9% notes and $3,388,000 of the 4.625% notes.
As previously announced, the total purchase price for each $1,000 principal amount will be $680 for the 4.9% notes and $610 for the 4.625% notes.
The company also will pay accrued interest to but excluding the settlement date of April 1.
The tender began on March 3 and was then modified on March 17 when Noble said it would pay the early tender premium to all holders who submitted their securities for purchase.
Originally, the total payment included an early tender premium of $50.00 per $1,000 of notes tendered by 5 p.m. ET on March 16, the early tender date. That premium will now be paid for all accepted notes.
The offer ended at 11:59 p.m. ET on March 31.
Credit Suisse Securities (USA) LLC (800 820-1653) and HSBC Securities (USA) Inc. (888 HSBC-4LM) are the dealer managers. Global Bondholder Services Corp. (212 430-3774 or 866 794-2200) is the depositary and information agent.
Noble Corp. plc is a London-based offshore drilling contractor for the oil and gas industry.
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