By Christine Van Dusen
Atlanta, July 7 – China’s Noble Group Ltd. priced a $50 million add-on to its 6% perpetual notes at 101 on Monday, according to a company announcement.
A $350 million issue of the notes previously priced at par to yield Treasuries plus 426 basis points.
BofA Merrill Lynch was the bookrunner 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: | $50 million
|
| Maturity: | Perpetual
|
| Description: | Notes
|
| Bookrunner: | BofA Merrill Lynch
|
| Coupon: | 6%
|
| Price: | 101
|
| Trade date: | July 7
|
| Settlement date: | July 10
|
| Distribution: | Regulation S
|
| Previous issue: | $350 million priced at par to yield Treasuries plus 426 bps
|
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