By Christine Van Dusen
Atlanta, July 30 - Hong Kong's Noble Group Ltd. priced a $750 million two-tranche bond issue due 2015 and 2020, according to an informed market source.
The deal included $500 million 4 7/8% bonds due 2015 that priced at 99.842 to yield 4.911%, or Treasuries plus 330 basis points, and $250 million 6 5/8% bonds due 2020 that priced at 99.704 to yield 6.666%, or Treasuries plus 375 bps.
JPMorgan was the bookrunner for the Rule 144A and Regulation S deal.
Proceeds will be used for general corporate purposes.
Noble Group is a shipping company.
| Issuer: | Noble Group Ltd.
|
| Issue: | Bonds
|
| Amount: | $750 million
|
| Bookrunner: | JPMorgan
|
| Trade date: | July 30
|
| Settlement date: | Aug. 5
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Bonds due 2015
|
| Amount: | $500 million
|
| Maturity: | 2015
|
| Coupon: | 4 7/8%
|
| Price: | 99.842
|
| Yield: | 4.911%
|
| Spread: | Treasuries plus 330 bps
|
|
|
| Bonds due 2020
|
| Amount: | $250 million
|
| Maturity: | 2020
|
| Coupon: | 6 5/8%
|
| Price: | 99.704
|
| Yield: | 6.666%
|
| Spread: | Treasuries plus 375 bps
|
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