China's Noble upsizes tender, accepts all $488.14 million 6 5/8% notes

New York, Nov. 19 - Noble Group Ltd. said it made a further slight increase to the size of its tender offer for its 6 5/8% senior notes due 2015 and accepted all $488,141,000 of the notes submitted by investors.

Previously the maximum size had been $485,291,000, earlier increased from the original $340 million.

The response represents 71.79% of the outstanding notes. Following the tender, $191,859,000 remain outstanding.

The tender offer expired as scheduled on Nov. 18.

Noble began the tender on Oct. 16, saying it would purchase for cash up to $340 million principal amount of its outstanding $680 million of 6 5/8% senior notes.

The company issued $700 million principal amount of the notes on March 17, 2005.

Holders who tendered their notes by 5 p.m. ET on Oct. 29, the early tender deadline, will receive an additional early tender payment.

The tender offer was subject to the issuance of fixed rate senior notes due 2020. Proceeds will be used to help fund the tender offer and for general corporate purposes.

J.P. Morgan Securities Ltd. is dealer manager, and Global Bondholder Services Corp. is depositary and information agent.

Noble is a Hong Kong-based commodities trading company.

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