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Wednesday, 13 July 2011

Noble secures record US$3.2b in credit facilities


Noble Group Limited said on Tuesday that it has secured a record US$3.2 billion in syndicated loans, up from its target of US$2.25 billion.

The facilities comprise a US$1,054.8 million 364-day committed Revolving Credit Facility, a Euro244.4 million 364-day committed Revolving Credit Facility and a US$1,789.2 million three-year committed Revolving Credit Facility.

Noble plans to use the funds to refinance existing debt and for the general corporate purposes of the company and its subsidiaries.

The bookrunner mandated lead arrangers were ABN AMRO Bank NV, Banco do Brasil SA, London Branch, Bank of America, NA, The Bank of Tokyo-Mitsubishi UFJ, Ltd, Citigroup Global Markets Asia Limited, Commerzbank AG, Hong Kong Branch, Cooperatieve Centrale Raiffeisen-Boerenleenbank BA (trading as Rabobank International), DBS Bank Ltd, Goldman Sachs Lending Partners, LLC, The Hongkong and Shanghai Banking Corporation Limited, ING Bank NV, JPMorgan Chase Bank, NA, Hong Kong Branch, Natixis, Hong Kong Branch, The Royal Bank of Scotland plc, Hong Kong Branch, Societe Generale and Standard Chartered Bank (Hong Kong) Limited.

This is Noble's second syndicated Revolving Credit Facilities transaction in less than 12 months.

On 1 December 2010, Noble announced it had completed syndication of US$2.54 billion equivalent of Committed Revolving Credit Facilities.

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