Lenders back Noble despite Muddy Waters attack

Commodities trader Noble Group, founded by British businessman Richard Elman, came under fresh attack from short-seller Muddy Waters last week, but relationship lenders showed their support by extending the commodities trader a $2.25 billion loan.

A group of 15 banks last week launched syndication on the $2.25 billion revolving loan facility. The banks were ANZ, Bank of America Merrill Lynch, Bank of Tokyo Mitsubishi, Citi, Commonwealth Bank of Australia, Rabobank, DBS, Goldman Sachs, HSBC, Intesa Sanpaolo, JP Morgan, National Bank of Abu Dhabi, Societe Generale, Standard Chartered Bank and United Overseas Bank.

We have banked the company for many years, this is not...