Noble (NE) subsidiary Noble Finance II has launched an offering of $500 million in unsecured senior notes due 2034, the company said Monday.
The company plans to use the proceeds, along with cash on hand, to redeem all outstanding 8.5% senior secured second-lien notes due 2030 issued by its subsidiaries Diamond Foreign Asset and Diamond Finance, it said.
The redemption is expected to be completed after the new notes offering closes, it added.