Noble Corporation Subsidiary Arranging Debt Financing
In Connection With Spin-Off

London - June 19, 2014 - PRNewswire

Noble Corporation (NYSE:NE) today announced 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.

About Noble Corporation
Noble is a leading offshore drilling contractor for the oil and gas industry. Noble performs, through its subsidiaries, contract drilling services with a fleet of 77 offshore drilling units (including one ultra-deepwater drillship and three high-specification jackup drilling rigs currently under construction), located worldwide, including in the U.S. Gulf of Mexico and Alaska, Mexico, Brazil, Argentina, the North Sea, the Mediterranean, West Africa, the Middle East, India, Malaysia and Australia. Noble's shares are traded on the New York Stock Exchange under the symbol "NE." Noble Corporation plc is a public limited company registered in England and Wales with company number 08354954 and registered office at Devonshire House, 1 Mayfair Place, London, W1J 8AJ England. Additional information on Noble Corporation is available on the Company's Web site at http://www.noblecorp.com.

Noble Corporation press release