Noble Group arranges $2.3 billion revolving loan facility with 35 banks

By Toni Weeks

San Luis Obispo, Calif., May 18 – Noble Group Ltd. said it closed on a $2.3 billion syndicated committed unsecured revolving loan facilities.

Thirty-five banks participated in the transaction, according to a press release.

The facilities include a 364-day revolving credit facility priced with an 85-basis-point margin and a three-year revolving credit facility priced with a 95-bps margin.

The three-year revolver incorporates a utilization fee structure based on amounts drawn.

Proceeds will be used for the refinancing of existing debt and for general corporate purposes.

The bookrunner mandated lead arrangers were Australia and New Zealand Bank Group Ltd., Bank of America, NA, Bank of Tokyo Mitsubishi UFJ Ltd., Citigroup Global Markets Asia Ltd. (lending through affiliate Citibank, NA, Hong Kong Branch), Commonwealth Bank of Australia, Cooperatieve Centrale Raiffeisen – Boerenleenbank BA, Singapore Branch, DBS Bank Ltd., Goldman Sachs (Asia) LLC, the Hongkong and Shanghai Banking Corp. Ltd., Intesa Sanpaolo SpA, Hong Kong Branch, JPMorgan Chase Bank, NA, Hong Kong Branch, National Bank of Abu Dhabi PJSC, Hong Kong Branch, Societe Generale, Standard Chartered Bank (Hong Kong) Ltd. and United Overseas Bank Ltd.

Noble Group is a Hong Kong-based conglomerate that focuses on raw materials.

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