Apr
05
Noble Group Said to Face Higher Financing Costs for New Loan
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Commodity trader in talks with banks for $1 billion facility
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Company said to offer margin of 2.25 percentage points
Noble Group Ltd., the junk-rated commodities trader, is facing much higher financing costs to arrange an unsecured loan of at least $1 billion, according to three people with knowledge of the terms.
The Hong Kong-based company, which started marketing the one-year revolving credit facility this week, is offering to pay 2.25 percentage points more than the London interbank offered rate, the people said, asking not to be identified because the talks are private. That compares with the 0.85 percentage-point spread Noble paid last year for a similar loan…
Noble Group Said to Face Higher Financing Costs for New Loan
