Noble Group Ltd., Asia’s biggest publicly traded commodities trader by sales, hired 16 banks to help arrange a $1.5 billion loan, according to a person familiar with the matter.
The banks 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., ING Groep NV, JPMorgan Chase & Co., Rabobank International, Royal Bank of Scotland Group Plc, Societe Generale SA, Standard Chartered Bank Plc and United Overseas Bank Ltd., the person said.
The loan will be split into a $600 million, 364-day facility and a $900 million, three-year facility, the person said, asking not to be identified because the details are private.
Noble is offering to pay a margin of 130 basis points more than the London interbank offered rate for the 364-day facility and a margin of 220 basis points for the three-year facility, the person said.
The company will meet with banks to market the loan to other lenders in New York on March 27, London on March 29 and Singapore and Hong Kong in mid-April, another person familiar with the matter said, also declining to be identified because details are private.