A Noble trade

Noble Group comes to the high yield market with a deal that looks investment grade.

Commodity trading company Noble Group yesterday priced one of the most successful debut offerings of international debt as it secured $700 million at 225bps over treasuries. The deal gives the company all in cost of funds of 6.756%.

After a one week road show the book was said to be $2 billion in size with almost 200 accounts present. This allowed the bonds to price at the tight end of the range of 225bps-237.5bps over treasuries...

To continue reading, please login or register for free

Click for more on: noble | trade

Print Edition

FinanceAsia Print Edition

CONFERENCES