Simpson Thacher Represents the Underwriters in $1.1 Billion Debt Offering by Noble
03.16.15
This is only gets display when printing
The Firm represented the underwriters led by Barclays Capital Inc., Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC in the public offering of $1.1 billion aggregate principal amount of debt securities of Noble Holding International Limited (“NHIL”), guaranteed by Noble Corporation (“Noble-Cayman”), consisting of $250 million aggregate principal amount of 4.000% Senior Notes due 2018, $450 million aggregate principal amount of 5.950% Senior Notes due 2025 and $400 million aggregate principal amount of 6.950% Senior Notes due 2045. The offering closed on March 16, 2015.
NHIL intends to transfer the net proceeds to Noble-Cayman, which intends to use the net proceeds to repay indebtedness outstanding under its revolving credit facilities and commercial paper program.
Noble-Cayman is an indirect, wholly-owned subsidiary of Noble Corporation plc, a public limited company incorporated under the laws of England and Wales. Noble-Cayman performs, through its subsidiaries, contract drilling services with a fleet of 32 offshore drilling units located worldwide.
The Simpson Thacher team for the transaction included Andy Keller, David Azarkh, Ryan Castillo and Angela McCray (Capital Markets); Devin Heckman (Tax); David Rubinsky and Doug Tang (Benefits); Tim Mulvihill (Environmental); and Jennie Getsin (Blue Sky/FINRA). Nakita Cuttino (Capital Markets, Houston office) also provided invaluable assistance.