Noble seeking commitments on increased US$3b refinancing

Hong Kong

NOBLE Group is seeking an increased size of US$3 billion to refinance debt coming due in May, even as it remains embroiled in a controversy over an obscure research firm's allegations of employing improper accounting rules.

The commodities trader is expected to come out with a term sheet soon and finalise terms on the loan within a couple of weeks. The borrower has gone out with a wish-list in terms of size and tenor and is expected to finalise the terms soon.