China's Noble Group to sell dollar-denominated bonds due 2020 to fund tender for 6 5/8% notes

By Paul A. Harris

St. Louis, Oct. 16 - China's Noble Group announced Friday that it plans to issue dollar-denominated bonds due in 2020 (//BBB-) in order to fund a tender for up to $340 million of its 6 5/8% notes due 2014.

Goldman Sachs International, the Hongkong and Shanghai Banking Corp. Ltd., J.P. Morgan Securities Ltd. and the Royal Bank of Scotland will be joint bookrunners.

The early tender date is Oct. 29.

Any proceeds remaining from the tender financing would be used for general corporate purposes.

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

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