By Christine Van Dusen
Atlanta, March 13 - China's Noble Group Ltd. sold $400 million 3 5/8% five-year notes (Baa3/BBB-/BBB-) at 99.268 to yield 3.787%, or Treasuries plus 290 basis points, a market source said.
BofA Merrill Lynch, Citigroup, ING, JPMorgan and Societe Generale were the bookrunners for the Regulation S deal.
The proceeds will be used for refinancing and for general corporate purposes.
The notes include a change-of-control put at 101%.
Noble Group is a Hong Kong-based conglomerate that focuses on raw materials.
| Issuer: | Noble Group Ltd.
|
| Amount: | $400 million
|
| Maturity: | March 20, 2018
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, Citigroup, ING, JPMorgan, Societe Generale
|
| Coupon: | 3 5/8%
|
| Price: | 99.268
|
| Yield: | 3.787%
|
| Spread: | Treasuries plus 290 bps
|
| Change-of-control put: | At 101%
|
| Trade date: | March 13
|
| Settlement date: | March 20
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
| Fitch: BBB-
|
| Distribution: | Regulation S
|
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