Noble's additional perpetuals won't affect ratings: Moody's

NOBLE Group's proposed issuance of additional perpetual capital securities has no impact on its rating, Moody's Investors Services said yesterday.

The largest commodity trader in Asia has said that it will issue an additional US$50 million in 6 per cent perpetual capital securities at an issue price of 101 per cent.

The group had in June issued US$350 million in 6 per cent perpetual securities, with the proceeds going towards the repayment of its 8.5 per cent perpetual securities issued on Nov 1, 2010, and general corporate purposes.