Noble Corp Stock Price, News & Analysis

Noble Corporation plc (NYSE: NE) announced the successful closure of a $600 million unsecured senior notes offering due in 2030, aiming to retire existing debt and cover operational expenses. Additionally, Noble has executed an Amended and Restated Senior Secured Revolving Credit Agreement, totaling $550 million, maturing in April 2028. CEO Robert Eifler emphasized that this refinancing simplifies the capital structure and enhances liquidity, aligning with Noble's strategic priority for 2023. The details of the offering and the credit agreement have been reported in a Form 8-K filed with the U.S. Securities and Exchange Commission.

Noble Corporation plc announced the pricing of a private offering of $600 million in new unsecured 8.000% Senior Notes due 2030. The net proceeds will be used to redeem existing Senior Secured PIK Toggle Notes due 2028, repay outstanding borrowings under a $350 million term loan facility, and cover related expenses. The Offering is expected to close on or about April 18, 2023, subject to customary conditions. The 2030 Notes are offered to qualified institutional buyers under Rule 144A and in compliance with Regulation S, having not been registered under the Securities Act.

Noble Corporation plc announced on April 3, 2023, that its subsidiary, Noble Finance II LLC, has commenced an offering of $600 million in unsecured senior notes due 2030. The proceeds will be used primarily for the redemption of outstanding Second Lien Notes due 2028, paying related premiums, and repaying a $350 million term loan. The offering is limited to qualified institutional buyers in the U.S. and complies with Regulation S for international investors. These notes are not registered under the Securities Act, meaning they can't be sold in the U.S. without proper registration.

Noble Corporation plc (NYSE: NE) has announced significant changes to its share capital as of March 31, 2023. A total of 3,776,358 new A ordinary shares have been issued since February 28, 2023. Of these, 3,771,978 shares were issued following the exercise of warrants, generating USD 15,036.41 in proceeds. The exercise prices varied from USD 19.27 to USD 23.13. Additionally, 4,380 shares were allocated to employees due to restricted stock units vesting. This results in a total of 138,592,090 A ordinary shares outstanding, maintaining the same rights as existing shares.

Noble Corporation plc (NYSE: NE) announced share capital changes on February 28, 2023. Since January 31, 2023, the company issued 404,861 new A ordinary shares. This includes 280 shares to warrant holders, generating proceeds of USD 5,936. The remaining 404,581 shares were issued at no cost to directors, officers, and employees due to restricted stock unit vesting. Following these changes, there are now 134,815,732 A ordinary shares outstanding, equating to a total nominal value of USD 1,348.16. The new shares will trade on Nasdaq Copenhagen.

Noble Corporation reported strong fourth quarter results with total revenue of $623 million, up from $306 million in Q3 2022, driven by the merger with Maersk Drilling. The company achieved $50 million in synergies to date and is targeting $125 million. Share repurchases totaled $96 million. The contract drilling services revenue was $586 million, while net income stood at $135 million. For 2023, guidance is set for total revenue between $2.35 billion and $2.55 billion, with adjusted EBITDA estimated at $725 million to $825 million.