Noble Group Ltd.’s loan has received $2.314 billion in commitments and the commodities trader plans to close the facility after it receives a response from one final bank, according to a person familiar with the matter.
Singapore-listed Noble may sign the loan, which had an original target size of $1.5 billion, next week, another person familiar with the matter said, asking not to be identified because the details are private. The company began marketing the loan in March after hiring 17 banks to help organize the facility, according to a March 23 e-mailed statement.
Stephen Brown, Noble’s Hong Kong-based spokesman, declined to comment on the financing when contacted by e-mail today.
Banks are invited to join in syndication with commitments of $75 million or more for a so-called all-in fee 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, a third person familiar with the matter said on March 23.
Lenders pledging $50 million to $74 million get an all-in rate of 185 basis points and 283 basis points on the 364-day and three-year portions respectively, the person said.
Banks committing $25 million to $49 million get an all-in of 180 basis points and 277 basis points respectively while those pledging less than $25 million get a rate of 170 basis points and 270 basis points, the person said.
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 Ltd., 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. are arranging the loan, according to the March 23 statement.