Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/noble-corporation-subsidiary-arranging-debt-financ.shtmlNoble Corporation subsidiary arranging debt financing in connection with spin-off
Noble Corporation announce that Paragon Offshore Ltd., its wholly owned subsidiary, is beginning the process of raising external
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Noble Corporation announce that Paragon Offshore Ltd., its wholly owned subsidiary, is beginning the process of raising external financing in preparation for the spin-off of Paragon Offshore in the third quarter of 2014.
The external financing is expected to consist of a senior secured term loan B of approximately $550 million and approximately $1.2 billion of senior unsecured notes.
As part of the external financing, Paragon also entered into an $800 million senior secured revolving credit facility due 2019 with various commercial and investment banks on June 17.
