Noble boosts credit facility for two US energy units to US$1.1b

Singapore

COMMODITIES trader Noble Group has boosted the size of an existing credit facility from US$450 million to US$1.1 billion to support its increasingly significant energy products distribution segment in the United States.

The expanded revolving borrowing base facility will be used by two of its wholly owned units, Noble Americas Corp and Noble Petro, to fund their "growing business requirements", Noble said in a press release on Monday.