据离岸工程网8月4日报道,由于“大宗商品价格严重下滑,再加上covid19大流行”,海洋钻井承包商诺贝尔公司(Noble Corporation)已申请破产保护,以重组其债务。
诺贝尔集团表示,已与公司未偿债券最大持有人组成的两个特设集团达成了一项重组支持协议。
该公司称,这将大大降低该公司资产负债表的杠杆率,使来宝公司能够实现长期增长。
除了其他事项外,协议还概述了一项全面计划,通过取消重组后公司的债务,并将债务转换为新股权的方式,来消除该公司当前超过34亿美元的债务。
诺贝尔集团的主要债券持有人也同意以新的二次留置权票据的形式投入2亿美元新资本。
在重组后,该公司预计将获得一个新的6.75亿美元有担保的循环信贷支持,该贷款将由其目前的循环信贷贷款放款财团提供,摩根大通银行将担任行政代理。
为实施重组交易,该公司和选定的子公司自愿根据《美国破产法》第11章向美国德州南区破产法院申请救济。
诺贝尔集团将通过一项重组计划实施重组,预计该计划将在今年秋季得到确认,从而使公司在年底前脱离破产保护。
该公司有足够的资金来资助其全球业务,不需要额外的申请后融资在这个时候。
在重组期间,诺贝尔将继续正常经营,不受干扰。
诺贝尔集团总裁兼首席执行官罗伯特?艾弗勒表示:“诺贝尔受到了大宗商品价格严重下滑的影响,而Covid-19疫情又加重了这种影响。
“经过数月的战略选择探索,我们得出结论,通过破产法第11章(Chapter 11)申请实施的一项大规模去杠杆化交易,得到了我们最大债权人的支持,将为诺贝尔集团和我们的股东带来最好的结果。”
“我们资产负债表和流动性状况的改善,将使我们能够进一步投资于我们的资产、客户关系和员工。”
寿琳玲 编译自 离岸工程
原文如下:
Noble Corporation files for bankruptcy protection
Offshore drilling contractor Noble Corporation has filed for Chapter 11 bankruptcy protection to restructure its debt following a “severe downturn in commodity prices which has been compounded by the Covid-19 pandemic”.
Noble Corporation said that it entered into a restructuring support agreement with two ad hoc groups of the largest holders of the company’s outstanding bond debt
According to the company, this will significantly deleverage the company’s balance sheet and position Noble Corp. for long term growth.
The agreement outlines, among other things, a comprehensive plan for the elimination of all of the company’s bond debt, which currently represents over $3.4 billion of debt, through the cancellation and exchange of debt for new equity in the reorganized company.
Noble Corp.’s major bondholders also agreed to invest $200 million of new capital in the form of new second-lien notes.
Following the restructuring, the company expects to emerge with an enhanced liquidity position supported by a new $675 million secured revolving credit facility to be provided by its current syndicate of revolving credit facility lenders, with JPMorgan Chase Bank as an administrative agent.
To implement the restructuring transaction, the company and selected subsidiaries voluntary filed petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas.
The restructuring will be implemented through a plan of reorganization that Noble Corp. expects to be confirmed by this fall, allowing emergence from Chapter 11 before year-end.
The company has sufficient capital to fund its worldwide operations and does not require additional post-petition financing at this time.
Noble will continue to operate as normal and without interruption for the duration of the restructuring.
Robert Eifler president and CEO of Noble Corporation, said: “Noble has been affected by the severe downturn in commodity prices which has been compounded by the Covid-19 pandemic.
“After many months exploring our strategic options, we concluded that a substantial deleveraging transaction implemented through a Chapter 11 filing, supported by our largest creditors, provides the best outcome for Noble and our stakeholders.”
“Our improved balance sheet and liquidity position will enable us to further invest in our assets, customer relationships and our people.”
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