3 Sept 2014director interest notice● Neutral
Noble Corp 10%+ owner Fir Tree INC. sold 10,000 shares at $0.47.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
29 Aug 2014asset acquisition disposition● Neutral
Noble voluntarily filed extra pro forma financial statements showing the company without Paragon Offshore, as of and for the six months ended June 30, 2014. They show pro forma six-month revenue of about $1.60 billion versus $2.49 billion reported, and pro forma net income attributable to Noble of about $303 million versus $491 million. Shareholders received one Paragon share for every three Noble shares held at the July 23, 2014 record date, and Paragon repaid about $1.7 billion of intercompany notes, which Noble used to repay commercial paper. These are illustrative figures, not actual results.
20 Aug 2014material agreement● Neutral
On August 18, 2014 Noble-Cayman amended its $600 million 364-day revolving credit facility, extending the maturity by six months to February 20, 2015 for lenders who agreed to the extension. This follows the open thread about extending that facility, which had been due August 20, 2014.
8 Aug 2014quarterly activities report● Neutral
Noble Corp reported quarterly revenue of $828.8 million and net income of $147.4 million for the period ended 2014-09-30.
7 Aug 2014director interest notice● Neutral
Noble Corp Sr. VP-CFO & Controller James A Maclennan bought 6,000 shares on the open market at $26.92.
5 Aug 2014asset acquisition disposition● NeutralMajor
Noble completed the Paragon Offshore spin-off on August 1, 2014, distributing all Paragon Offshore shares to Noble shareholders, and signed the separation agreements (master separation, tax sharing, employee matters, and two transition services agreements) that split assets, liabilities and taxes between the two companies. This resolves the long-running spin-off thread. Noble keeps responsibility for its own (high specification) business, and Paragon takes the standard specification rigs.
5 Aug 2014director interest notice● Neutral
Noble Corp 10%+ owner Noble Corp PLC disposed of 84,753,393 shares via option/appreciation-right settlement.
30 July 2014quarterly activities report● Neutral
Noble Corp reported quarterly revenue of $803.8 million and net income of $140.3 million for the period ended 2014-06-30.
22 July 2014debt financing● NeutralMajor
On July 18, 2014 Paragon Offshore, still a Noble subsidiary, sold $500 million of 6.75% notes due 2022 and $580 million of 7.25% notes due 2024, and borrowed $650 million under a seven-year term loan. The filing says the proceeds were used to repay in full the promissory notes Paragon had issued to Noble as part of the price for taking over the standard specification business. This completes the Paragon financing flagged in June ahead of the spin-off, which the filing still describes as proposed.
18 July 2014director interest notice● Neutral
Noble Corp PLC became a Noble Corp 10%+ owner and company insider (initial ownership filing).
19 June 2014debt financing● NeutralMajor
Noble's subsidiaries Paragon Offshore and Paragon International Finance Company signed an $800 million senior secured revolving credit agreement on June 17, 2014 in preparation for the planned spin-off of the standard specification business. Its terms only take effect once the separation is completed. A press release says Paragon also expects to raise about $550 million in a term loan B and about $1.2 billion in senior unsecured notes, with the spin-off planned for the third quarter of 2014.
13 June 2014listing compliance notice● Neutral
Noble filed an amendment to a Form 15 first filed January 31, 2014. It withdraws that original filing and clarifies that it was not meant to affect the reporting obligations of Noble Corporation plc, which continues to report under Section 15(d). It changes nothing for shareholders; it is a housekeeping clarification about the old Swiss entity's registration.
10 June 2014director interest notice● Neutral
Scott D Josey became a Noble Corp director and company insider (initial ownership filing).
9 June 2014director interest notice● Neutral
Noble Corp Chairman, President, and CEO David W Williams bought 10,000 shares on the open market at $31.03.
15 May 2014director interest notice● Neutral
Noble Corp Sr. VP-CFO & Controller James A Maclennan bought 4,075 shares on the open market at $30.73.
14 May 2014director interest notice● Neutral
Noble Corp director Mary P Ricciardello bought 280 shares on the open market.
14 May 2014director interest notice● Neutral
Noble Corp Chairman, President , and CEO David W Williams bought 10,000 shares on the open market at $30.64.
12 May 2014quarterly activities report● Neutral
Noble Corp reported quarterly revenue of $803.8 million and net income of $140.3 million for the period ended 2014-06-30.
7 May 2014debt financing● Neutral
As part of an internal reorganization, Noble Holding (U.S.) Corporation took over the assets of Noble Drilling Corporation and became the issuer of its 7.50% Senior Notes due 2019 (about $201.7 million outstanding at March 31, 2014). Noble Drilling was released from the notes. This follows the December 2013 loan amendments that allowed Noble Drilling to be released as a guarantor if it was released from its senior notes.
30 Apr 2014agm notice● Neutral
Noble Corp announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
17 Apr 2014director interest notice● Neutral
Noble Corp Exec.VP & Corp. Sec. Julie J Robertson exercised stock options for 17,996 shares and disposed of 17,996 shares.
16 Apr 2014quarterly activities report● Neutral
Noble Corp reported quarterly revenue of $795.2 million and net income of $154.8 million for the period ended 2014-03-31.
17 Mar 2014director interest notice● Neutral
Noble Corp director Gordon T Hall bought 5,000 shares on the open market.
12 Mar 2014director interest notice● Neutral
Simon Johnson became a Noble Corp Sr. VP - Marketing & Contracts and company insider (initial ownership filing).
7 Mar 2014business combination● NeutralMajor
Noble filed a preliminary proxy for its April 25, 2014 annual general meeting. Shareholders will vote on three director elections, auditors and pay, and two changes to the company's articles: one to let the board pay out shares of Paragon Offshore (the subsidiary that will hold the standard specification rigs) to shareholders as a dividend, and one to end the staggered board so all directors serve one-year terms. This moves the spin-off announced in September 2013 closer, though the filing does not say when it would happen.
24 Feb 2014director interest notice● Neutral
Noble Corp director Michael A Cawley exercised stock options for 15,000 shares and disposed of 30,000 shares.
18 Feb 2014substantial holder notice● Neutral
WHV Investment Management, Inc, Hirayama Investments, LLC reported a Noble Corp shareholding of 10,469,727 shares (4.13% of votes) in a periodic institutional filing.
14 Feb 2014director interest notice● Neutral
Noble Corp Executive Vice President Randall D Stilley received a stock option grant for 96,200 shares.
14 Feb 2014director interest notice● Neutral
Randall D Stilley became a Noble Corp Executive Vice President and company insider (initial ownership filing).
13 Feb 2014substantial holder notice● Neutral
Fir Tree Inc reported a Noble Corp shareholding of 25,029,558 shares (9.90% of votes) in a periodic institutional filing.