Shares of Singapore-listed commodity firm Noble Group <NOBG.SI> rose 2.5% to $2.03 on Friday after launching a US$1.5 billion ($2 billion) revolving loan facility.

Over 23.4 million shares had changed hands by 10:37 a.m.

"This is good news because the company managed to secure quite a large sum of financing, part of which could be used for its expansion plans," said a local dealer.

Noble said funds raised from the loan facility will go towards its general corporate purposes.

Shares of Noble have fallen 3.9% so far this year, underperforming the Straits Times Index <.FTSTI>, which has risen about 9%.