China's Noble Group talks $500 million five-year notes at 8½%-8¾%

By Paul A. Harris

St. Louis, May 21 - China's Noble Group set price talk for its $500 million offering of five-year fixed-rate senior notes (Ba1/BB+/BBB-) at 8½% to 8¾% on Wednesday, according to a market source.

The Rule 144A and Regulation S deal is expected to price Thursday.

Citigroup and J.P. Morgan Securities Inc. are the physical bookrunners for the Rule 144A and Regulation S offering.

Proceeds will be used to repay debt.

The prospective issuer is a Hong Kong-based commodities trading company.

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