Noble signs US$2.3b revolving loan facility deal with 35 banks

COMMODITY trader Noble Group on Tuesday announced that it has successfully closed a US$2.3 billion committed unsecured revolving loan facility from 35 global banks.

The sum will be used for the refinancing of "certain of its existing debt" and general corporate purposes, Noble said in a statement.

The facility comprises a 364-day revolving credit facility and a three-year revolving credit, priced at 85 basis points (bps) margin and 95 bps margin respectively.

The three-year revolving credit facility incorporates a utilisation fee structure, depending on amounts drawn.

Last week, Noble Agri - an agribusiness associate of Noble Group - appointed Matthew Jansen, former president of the oilseeds business unit of Archer Daniels Midland, as its new chief executive officer.