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Noble Corporation subsidiary arranging debt financing in connection with spin-off


Published Jun 23, 2014
Noble Corporation

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.

Tags: Noble Corporation




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