Noble Corporation Reports Fourth Quarter And Full Year 2020 Results
- Completed financial restructuring on February 5, 2021
- Achieved zero lost-time incidents during 2020 and set several company safety records during the year
- Contract backlog over $1.6 billion at the end of 2020
- Fourth quarter results include a non-cash, before-tax charge of $2.8 billion relating to the impairment of certain rigs and related capital spares
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SUGAR LAND, Texas, March 11, 2021 /PRNewswire/ Noble Corporation ( Noble or the Company ), as the successor entity for Noble Holding Corporation plc ( Legacy Noble ), today reported fourth quarter and full year 2020 results.
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Noble Holding Corporation plc Successfully Completes Balance Sheet Restructuring And Emerges From Chapter 11
Noble Holding Corporation plc (“Noble UK”) announced today that on February 5, 2021 it successfully completed its financial restructuring and its debtor affiliates have emerged from Chapter 11 with a new parent company organized under the laws of the Cayman Islands named Noble Corporation (“Noble” or “the Company”).
As a result of the financial restructuring, Noble will have a substantially delevered balance sheet with less than $400 million of debt and liquidity of approximately $600 million. Noble’s new capital structure will include a new $675 million revolving credit facility, of which $178 million is currently drawn, and $216 million of second lien notes.
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