Hong Kong's Noble Group sets up RM 3 billion Islamic note program

By Angela McDaniels

Tacoma, Wash., March 15 - Noble Group Ltd. has established a RM 3 billion multi-currency Islamic medium-term note program, according to a company news release.

Under the program, the company may issue Islamic medium-term notes ("sukuk murabahah") in Malaysian ringgit or in other currencies and in tenors of one to 20 years.

AmInvestment Bank Bhd. and Standard Chartered Saadiq Bhd. are the lead arrangers for the program. Standard Chartered Saadiq is the facility agent. Deutsche Trustees Malaysia Bhd. is the trustee.

Proceeds will be used for general corporate purposes and in compliance with Shariah principles.

Bank of America Merrill Lynch is acting as financial adviser to the company for the program.

Noble Group is a Hong Kong-based global supply chain manager.

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