and oil to rival larger European players like Glencore (. Noble's shares were 12 per cent higher in late morning trade while its 2020 bonds were up about three points.5/37.5 cents on the dollar. In a filing to the Singapore Exchange (SGX) on Monday, Noble said that it has availed itself of a 30-day grace period and has "consulted extensively" with an ad hoc group of the company's senior creditors. I dont factor in any strategic sale yet, said Lorraine Tan, director of equity research in Asia at Morningstar. Singapore/hong kong (bloomberg) - Shares of Noble Group plummeted in Singapore after the embattled commodity trader warned of a quarterly loss of as much as US1.8 billion and announced more asset sales, with S P Global Ratings saying the disposals may not be enough and. Noble has struck with its senior unsecured creditors; the facility would be underwritten by the perp holders and. While S P kept Noble's CCC rating unchanged pending more information about cash flow and liquidity headroom, it flagged concerns. " Noble Group has decided to avail itself of favourable market conditions to monetise the vessel the group said. The payment of about US40 million to bondholders comes after Noble last week announced a dramatic overhaul and flagged a quarterly loss of as much as US1.8 billion. Noble is expected to offer carmex coupon deals unsecured bondholders new secured bonds in exchange for a haircut of as much as 50 per cent on the principal, according to CreditSights.
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Noble had extended the 2 billion credit line, but was told to find a strategic investor. Noble, group's freight business. Built in 2015, the vessel, Ocean Integrity, is registered in Hong Kong and has a capacity of 81,499 deadweight tonnes. Energy norfolk tides coupons unit to its agribusiness, also said it could sell more and cut costs further to boost liquidity. Group Limited (the 'Company and together with its subsidiaries, the 'Group announces that the Company has not paid the coupon due with respect to the US750 million notes due (the '2022 Notes. Noble has a bond worth about 379 million due in March and.1 billion loan due in May 2018. The shares sank as much as 49 per cent, while the bonds due in 2020 held near a record low, as the Hong Kong-based company abandoned its ambitions in global commodities trading with the sale of its gas-and-power unit, and planned disposal of its oil-liquids business.
It also sold its US gas and power business for US248 million, started a process to sell its oils liquids unit and announced plans for up to US1 billion of disposals over the next two years. The question is how are they going to be able to do this.". "The group believes the alternative facility provides.
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