Will Noble trump Truba in the high-yield bond stakes?

While the status of Truba's bond transaction remains unclear, Noble's five-year 144A deal could be the one to open this year's high-yield bond market.

Noble Group, one of Asia's largest diversified commodities trading companies, yesterday announced a five-year 144A transaction, likely to price soon after a roadshow that will begin in Hong Kong on Monday. The roadshow will encompass Singapore, London and the US. The transaction, which is managed by Citi and JPMorgan, and expected to be of at least $300 million, will repay existing debt.

Noble could pip PT Truba Alam Manunggal Engineering at the line for the glory of carrying...

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