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ENERGY & OFFSHORE | Staff Reporter, Singapore

Noble Group cancels multi-currency Islamic medium note programme worth $1b

The company issued and redeemed three medium term notes worth $101m.

Noble Group on 5 March cancelled its multi-currency Islamic medium note programme of up to RM3b ($1b).

Under the programme, the company issued three tranches of notes worth RM300m ($101m) including 4.5% medium term notes due 16 October 2015, 4.22% medium term notes due 13 December 2014, and 4.3% medium term notes due 30 January 2016.

The company said all notes were fully redeemed on the respective due dates.

In recent reports, Noble Group reportedly handed its outgoing co-Chief Executive Officer Jeff Frase a remuneration worth about US$20m last year, even it slumped to a record loss of almost US$5b

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