Noble Group, the commodities supplier backed by China’s sovereign wealth fund, said it is increasing the size of its credit-guarantee facility to US$1.2 billion ($1.7 billion) from US$800 million.

The company will extend the maturity of the loan program, used for letters of credit and bank guarantees, to July 2012 and July 2013, it said in a statement to the Singapore exchange today. Hong Kong-based Noble also said it will also amend the margin and fee structure of the facility.

China Development Bank Corp., Citigroup Inc., Commerzbank AG, Rabobank Nederland NV, DBS Group Holdings Ltd., ING Groep NV, Royal Bank of Scotland Group Plc, Societe Generale and Standard Chartered Plc are arranging the deal, according to the statement.

“The facility will be used to support the company, its subsidiaries and related companies in connection with the issue of various types of instruments, including standby letters of credit and bank guarantees,” Noble said.