Noble Group has announced the completion of the sale of Noble Americas Corp (NAC) and the conclusion of its monetisation of the Global Oil Liquids and North American Gas and Power businesses and retirement of its senior secured borrowing base revolving credit facilities (BBF).

The estimated net proceeds from the sale of NAC were US$400 million, based on the estimated closing date base consideration of US$214 million, plus estimated closing date net working capital of US$388 million, minus US$202 million of loans drawn under the NAC BBF. Loans drawn under that facility were repaid by Vitol, the buyer of NAC. The NAC credit facility has subsequently been retired.

Overall, the group has generated approximately US$525 million of net proceeds, following retirement in full of the NAC BBF and Noble Clean Fuels BBF, from the monetisation of the Global Oil Liquids and North American Gas & Power businesses.

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