The Firm represented the underwriters led by Credit Suisse Securities (USA) LLC (“Credit Suisse”) in the public offering of $1 billion aggregate principal amount of 7.75% Senior Notes due 2024 of Noble Holding International Limited (“NHIL”), guaranteed by Noble Corporation (“Noble-Cayman”). The offering closed on December 28, 2016.
The Firm also represented Credit Suisse as dealer manager in connection with the concurrent tender offers to purchase for cash up to $750 million of NHIL’s 4.9% Senior Notes due 2020, 4.625% Senior Notes due 2021 and 3.95% Senior Notes due 2022.
NHIL used a portion of the net proceeds of the notes offering to fund the tender offers and it intends to use the remaining proceeds for general corporate purposes.
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 30 offshore drilling units located worldwide.
The Simpson Thacher team for the transaction included Andy Keller, David Azarkh, Sung Bum Cho and Steven LoCascio (Capital Markets); Jonathan Cantor and Jodi Schneider (Tax); Tim Mulvihill (Environmental); and Jennie Getsin (Blue Sky/FINRA). Ana Sanchez (Capital Markets - Houston) also provided invaluable assistance.