By Christine Van Dusen
Atlanta, June 17 – China’s Noble Group Ltd. priced $350 million perpetual notes on Tuesday at par to yield 6%, or Treasuries plus 426 basis points, a market source said.
BofA Merrill Lynch, Citigroup, HSBC, JPMorgan and Societe Generale were the bookrunners for the Regulation S deal.
The proceeds will be used for general corporate purposes and for the refinancing of the company’s 8˝% perpetual capital securities issued on Nov. 1, 2010.
Noble Group is a Hong Kong-based conglomerate that focuses on raw materials.
| Issuer: | Noble Group Ltd.
|
| Amount: | $350 million
|
| Maturity: | Perpetual
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, Citigroup, HSBC, JPMorgan, Societe Generale
|
| Coupon: | 6%
|
| Price: | Par
|
| Yield: | 6%
|
| Spread: | Treasuries plus 426 bps
|
| Trade date: | June 17
|
| Distribution: | Regulation S
|
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