Noble Group secures US$2.54 billion loan

JAKARTA: Noble Group Limited has successfully returned to the syndication markets. The global supply chain manager today announced that syndication for its revolving credit facilities has closed at record levels. The Facilities were launched with a target
Wandrik Panca Adiguna
Wandrik Panca Adiguna - Bisnis.com 14 Desember 2010  |  08:17 WIB

JAKARTA: Noble Group Limited has successfully returned to the syndication markets. The global supply chain manager today announced that syndication for its revolving credit facilities has closed at record levels. The Facilities were launched with a target size of US$1.5 billion. However, due to exceptional interest, the facilities were substantially oversubscribed by 70% with the final size of the facilities increased to US$2.54 billion. The transaction represents the largest syndicated facility for Noble Group to-date. Signing took place on 1 December 2010. "This is the second successfully concluded syndicated facility in 2010 and reflects the strong interest from the banking community. We are very pleased to have such a broad diversity of high quality financial institutions and the high level of participation indicates the global breadth of Nobles business activities today," said Noble CEO Ricardo Leiman in a press statement today. The Facilities comprise a US$943 million 364-day committed revolving loan facility, a Euro 132 million 364-day committed revolving loan facility and a US$1,426 million three-year committed revolving loan facility. The facilities will replace Noble Group's US$645.2 million 364-day committed revolving loan facility which matures in 2010. The company shall apply all amounts borrowed under the facilities for general corporate purposes. The bookrunner mandated lead arrangers were ABN AMRO Bank N.V., Australia and New Zealand Banking Group, Bank of America N.A., Commerzbank AG, Coperatieve Centrale Raiffeisen-Boerenleenbank B.A. (trading as Rabobank International), and Credit Agricole (Suisse) SA.DBS Bank Ltd, Goldman Sachs (Asia) L.L.C., HSBC, ING Bank N.V., Intesa Sanpaolo S.p.A., Hong Kong Branch, J.P. Morgan, Lloyds TSB Corporate Markets, Natixis, Royal Bank of Canada, The Royal Bank of Scotland plc, Socit Gnrale Corporate & Investment Banking, Standard Chartered Bank (Hong Kong) Limited, and United Overseas Bank Limited also participate to arrange the facility.Road shows were held in Hong Kong, Singapore, Taipei, London and New York which were well attended by over 100 financial institutions. (wiw)

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