Noble to increase revolver after attracting over 60 banks

Noble Group, the Hong Kong-based commodities company, is set to increase a $1.5bn loan to at least $2.2bn after attracting more than 60 banks to the syndicate — thanks to hefty upfront commitments from the leads that helped build momentum.

  • 11 Nov 2010

The 19 mandated lead arrangers committed $1.33bn before the deal launched, or $70m each, and they always thought it would be increased.

"This deal was launched at a level slightly below what the borrower wants to borrow to sound out demand," said a banker on the deal. "The ...

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1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

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