Noble Group Ltd. (NOBL), a Singapore- listed commodities trader, is marketing a $1.5 billion loan to banks in general syndication, according to a person familiar with the matter.
Banks are invited to join in syndication with commitments of $75 million or more for a so-called all-in of 190 basis points more than the London interbank offered rate on a 364-day tranche and 290 basis points on a three-year portion, said the person, who asked not to be identified because the details are private.
Lenders pledging $50 million to $74 million get an all-in of 185 basis points and 283 basis points on the 364-day tranche and three-year portion respectively, the person said.
Banks committing $25 million to $49 million get an all-in of 180 basis points and 277 basis points on the 364-day tranche and three-year portion respectively, the person said. Financial institutions committing less than $25 million get a rate of 170 basis points and 270 basis points on the 364-day tranche and three-year portion respectively.
Banks hired to arrange the loan are Australia & New Zealand Banking Group Ltd., ABN Amro Bank NV, Bank of America Corp., Bank of Tokyo-Mitsubishi UFJ Ltd., Citigroup Inc., DBS Group Holdings Ltd., Goldman Sachs Group Inc., HSBC Holdings Plc, Lloyds Banking Group Plc, Industrial & Commercial Bank of China, ING Groep NV, JPMorgan Chase & Co., Rabobank International, Royal Bank of Scotland Group Plc, Societe Generale SA, Standard Chartered Plc and United Overseas Bank Ltd., according to a statement filed by the company to the Singapore Stock Exchange.
The loan will be split into a $600 million, 364-day facility and a $900 million, three-year facility, according to the statement.