NOBLE CORPORATION PLC ANNOUNCES PROPOSED OFFERING OF $500 MILLION OF SENIOR NOTES DUE 2034

Noble Corporation (NYSE: NE) announced a proposed private offering of $500 million in unsecured senior notes due 2034, issued by subsidiary Noble Finance II LLC and guaranteed by certain restricted subsidiaries.

Rhea-AI Summary

Noble Corporation (NYSE: NE) announced a proposed private offering of $500 million in unsecured senior notes due 2034, issued by subsidiary Noble Finance II LLC and guaranteed by certain restricted subsidiaries.

Noble intends to use net proceeds and cash to redeem existing 8.500% senior secured second lien notes due 2030, subject to completion of the new offering.

Positive

• Proposed $500 million unsecured senior notes due 2034
• Plans to redeem existing 8.500% senior secured second lien notes due 2030
• Refinancing uses net proceeds from notes plus cash on hand

Negative

• Transaction adds $500 million in senior unsecured debt
• Redemption of Diamond Notes is conditional on completion of the new offering

Argus Jun 1 session

+1.38% close to close Open Argus

Details

News Market Reaction – NE

On Jun 1, the day this news came out, NE closed 1.38% above the previous close.

Data tracked by StockTitan Argus for the Jun 1 session.

Market Context

This announcement highlights Noble’s ongoing capital-structure management. The company began an offe...

Analysis

This announcement highlights Noble’s ongoing capital-structure management. The company began an offering of $500 million in unsecured senior notes due 2034, intending to use proceeds and cash on hand to redeem existing 8.500% Senior Secured Second Lien Notes due 2030. This shifts obligations from secured to unsecured debt and extends maturities. In context of prior earnings showing strong backlog and dividends, investors may watch future filings for finalized terms, impacts on interest expense, and any further balance-sheet actions.

Key Figures

New senior notes: $500 million New notes maturity: 2034 Redeemed notes coupon: 8.500% +2 more

New senior notes

$500 million

Aggregate principal amount of unsecured senior notes due 2034

New notes maturity

2034

Maturity year of the newly offered senior notes

Redeemed notes coupon

8.500%

Coupon on Senior Secured Second Lien Diamond Notes due 2030

Diamond Notes maturity

2030

Maturity year of Diamond Senior Secured Second Lien Notes to be redeemed

Securities Act year

1933

Securities Act of 1933 referenced for Rule 144A and Regulation S

Historical Context

5 past events · Latest: May 21

5 events

1. May 21

   Board appointment

   24h Move

   -0.7%

   Appointment of Jeff Miller to Noble’s Board to support long-term strategy.

2. Apr 26

   Quarterly earnings

   24h Move

   +8.2%

   Strong Q1 2026 results with higher backlog and maintained full-year guidance.

3. Apr 14

   Earnings scheduling

   24h Move

   -0.5%

   Announcement of timing and webcast details for Q1 2026 earnings release.

4. Feb 11

   Quarterly earnings

   24h Move

   -3.4%

   Q4 and full-year 2025 results with higher backlog and asset divestitures.

5. Feb 02

   Earnings scheduling

   24h Move

   +1.1%

   Announcement of Q4 and full-year 2025 earnings release and call timing.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

senior notes, second lien, rule 144a, regulation s, +3 more

7 terms

senior notes financial

"commenced an offering (the "Offering") of $500 million in aggregate principal amount of unsecured senior notes due 2034"

Senior notes are a type of loan that a company borrows from investors, promising to pay it back with interest. They are called "senior" because in case the company faces financial trouble, these lenders are paid back before others. This makes senior notes safer for investors compared to other types of loans or bonds.

second lien financial

"8.500% Senior Secured Second Lien Notes due 2030 issued by Diamond Foreign Asset Company"

A second lien is a lender’s claim on specific assets that ranks behind a first lien in priority; if the borrower defaults, the first lien holder is paid from the sale of those assets before the second lien holder receives anything. Investors should care because second-lien loans carry more risk than first liens and therefore typically offer higher returns, similar to standing in line behind another person to be repaid from the same pool of collateral.

rule 144a regulatory

"qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933"

Rule 144A is a regulation that makes it easier for companies to sell private bonds to large investors without going through all the usual rules that apply to public sales. It matters because it helps companies raise money more quickly and privately, often attracting big investors looking for special deals.

regulation s regulatory

"to persons outside the United States only in compliance with Regulation S under the Securities Act"

Regulation S is a set of rules that allows companies to sell securities (like shares or bonds) to investors outside the United States without having to follow all U.S. securities laws. It matters because it makes it easier for companies to raise money from international investors while still complying with U.S. regulations.

indenture regulatory

"optional redemption provisions of the indenture governing the Diamond Notes"

An indenture is a legal agreement between a company that borrows money by issuing bonds and the people who buy those bonds. It explains the rules the company must follow, like paying back the money and keeping certain financial promises. This document helps both sides understand their rights and responsibilities.

optional redemption financial

"does not constitute a notice of redemption under the optional redemption provisions of the indenture"

Optional redemption is the issuer’s right to pay back a bond or preferred security before its scheduled maturity date. Investors care because this can cut short expected interest or dividend payments and force them to reinvest the returned principal, often at lower rates; think of it like a homeowner paying off a loan early — the lender gets cash back sooner but loses the steady future income originally expected. Issuers may offer a small premium to compensate investors, which affects the security’s price and yield.

aggregate principal amount financial

"offering (the "Offering") of $500 million in aggregate principal amount of unsecured senior notes"

The aggregate principal amount is the total amount of money borrowed through a bond or loan that the borrower promises to repay. It’s like the original price tag on a loan or bond, showing how much money is involved in the deal. This number matters because it indicates the size of the debt and helps investors understand the scale of the borrowing.

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HOUSTON, June 1, 2026 /PRNewswire/ -- Noble Corporation plc (NYSE: NE, "Noble" or the "Company") today announced that Noble Finance II LLC (the "Issuer"), a wholly owned subsidiary of the Company, has commenced an offering (the "Offering") of $500 million in aggregate principal amount of unsecured senior notes due 2034 (the "Notes"). The Notes will be guaranteed by certain direct and indirect restricted subsidiaries of the Issuer. Noble intends to use the net proceeds from the Offering, together with cash on hand, to redeem (the "Redemption") all of the outstanding 8.500% Senior Secured Second Lien Notes due 2030 issued by Diamond Foreign Asset Company and Diamond Finance, LLC, each a wholly owned subsidiary of the Company (the "Diamond Notes"). The Redemption is expected to be conditioned on the completion of the Offering. This press release does not constitute a notice of redemption under the optional redemption provisions of the indenture governing the Diamond Notes.

The Notes are being offered in the United States only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to persons outside the United States only in compliance with Regulation S under the Securities Act. The Notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security, nor shall there be any sale of the Notes or any other security of Noble, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.

About Noble Corporation plc
Noble is a leading offshore drilling contractor for the oil and gas industry. The Company owns and operates one of the most modern, versatile, and technically advanced fleets in the offshore drilling industry. Noble and its predecessors have been engaged in the contract drilling of oil and gas wells since 1921. Noble performs, through its subsidiaries, contract drilling services with a fleet of offshore drilling units focused largely on ultra-deepwater and high specification jackup drilling opportunities in both established and emerging regions worldwide.

Forward-looking Statements
This communication includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this communication are forward-looking statements, including those regarding the Offering, the use of proceeds therefrom and the Redemption. Forward-looking statements involve risks, uncertainties and assumptions, and actual results may differ materially from any future results expressed or implied by such forward-looking statements. When used in this communication, or in the documents incorporated by reference, the words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "on track," "plan," "possible," "potential," "predict," "project," "should," "would," "shall," "target," "will" and similar expressions are intended to be among the statements that identify forward-looking statements. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we cannot assure you that such expectations will prove to be correct. These forward-looking statements speak only as of the date of this communication and we undertake no obligation to revise or update any forward-looking statement for any reason, except as required by law. Risks and uncertainties include, but are not limited to, those detailed in Noble's most recent Annual Report on Form 10-K, Quarterly Reports Form 10-Q and other filings with the U.S. Securities and Exchange Commission. We cannot control such risk factors and other uncertainties, and in many cases, we cannot predict the risks and uncertainties that could cause our actual results to differ materially from those indicated by the forward-looking statements. You should consider these risks and uncertainties when you are evaluating us.

View original content:https://www.prnewswire.com/news-releases/noble-corporation-plc-announces-proposed-offering-of-500-million-of-senior-notes-due-2034-302787032.html

SOURCE Noble Corporation plc

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Noble (NYSE: NE) announce about its $500 million senior notes due 2034?

Noble announced a proposed private offering of $500 million in unsecured senior notes due 2034. According to Noble, the notes will be issued by Noble Finance II LLC and guaranteed by certain restricted subsidiaries, targeting qualified institutional buyers and offshore investors.

How will Noble use the proceeds from the 2034 senior notes offering (NE)?

Noble intends to use net proceeds from the 2034 senior notes, together with cash on hand, to redeem all outstanding 8.500% Senior Secured Second Lien Notes due 2030. According to Noble, this redemption is expected to be conditioned on completion of the new offering.

What are the key terms of Noble’s 2034 senior notes offering for NE investors?

The proposed offering covers $500 million aggregate principal of unsecured senior notes due 2034. According to Noble, the notes will be privately offered under Rule 144A and Regulation S and guaranteed by certain direct and indirect restricted subsidiaries of the issuer.

Which existing debt will Noble refinance with the new 2034 notes (ticker NE)?

Noble plans to redeem all outstanding 8.500% Senior Secured Second Lien Notes due 2030 issued by Diamond Foreign Asset Company and Diamond Finance. According to Noble, these entities are wholly owned subsidiaries, and redemption depends on completing the new notes offering.

Who can buy Noble’s new 2034 senior notes (NE) and are they registered?

The new notes are offered to qualified institutional buyers in the U.S. under Rule 144A and to non-U.S. investors under Regulation S. According to Noble, the notes are unregistered under the Securities Act and cannot be sold publicly without registration or exemption.

Does Noble’s June 1, 2026 notes announcement constitute an offer to sell NE securities?

The announcement does not constitute an offer to sell or solicitation to buy any securities. According to Noble, no sales will occur where such actions would be unlawful before proper registration or qualification under applicable securities laws.