Past year: ▼ 92%(2.20c – 70.1c USD)
Each one in plain English, with the numbers worked through for a shareholder.
11 June 2012debt financing● NeutralMajor
Noble-Cayman signed a new $1.2 billion five-year revolving credit agreement (due June 8, 2017, expandable to $1.5 billion) with Wells Fargo as agent, and at the same time terminated its March 2007 revolving credit facility with Citibank as agent. It replaces that older facility; the February 2011 $300 million facility is not mentioned as terminated.
13 Feb 2012material agreement● NeutralMajor
The bond sale agreed on February 7 was completed on February 10, 2012: $300 million of 2.50% notes due 2017, $400 million of 3.95% notes due 2022 and $500 million of 5.25% notes due 2042, with interest paid each March 15 and September 15 starting September 15, 2012. Expected net proceeds of about $1.187 billion are to repay revolving credit borrowings and fund general purposes including capital spending; the notes restrict secured debt, certain sale-and-leasebacks and mergers.
9 Feb 2012material agreement● NeutralMajor
Noble's subsidiary Noble Holding International agreed to sell $1.2 billion of senior notes ($300 million at 2.50% due 2017, $400 million at 3.95% due 2022, $500 million at 5.25% due 2042), guaranteed by Noble-Cayman. It expects about $1.187 billion net, to repay borrowings under its revolving credit facilities and for general purposes including capital spending.
17 Feb 2011debt financing● NeutralMajor
Noble's Cayman subsidiary signed a $300 million four-year revolving credit agreement with Wells Fargo as agent and other banks, due February 11, 2015. It can be raised to $600 million by March 31, 2011 (which the company says it intends to do) and up to $800 million after that; money can be used for working capital and general corporate purposes.
