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Troubled Noble Group Says Goodbye to Global Oil Trading

Noble Group is closing down its London oil desk and winding down its Asia oil operations, sources familiar with the matter said, as heavy losses and high debt force what was once Asia's biggest commodities trader to restructure, the International ...

Daily Headline - global.abi.org - 01/10/2018 - 22:10 - 0 comments

Noble Group Gets Another Credit Extension, but Future Remains Uncertain

Troubled commodity trader Noble Group on Thursday said it had obtained a waiver from creditors to extend covenants on a loan facility to May next year, giving it more time in its debt restructuring negotiations, the International New York Times repor ...

Daily Headline - global.abi.org - 12/20/2017 - 21:02 - 0 comments

Noble Group Says to Expect ‘More Pain’ Ahead

A deal between Noble Group, the troubled commodity trader, and its creditors could involve a debt-for equity swap that would further dilute existing shareholders, its chairman has warned. Speaking at a shareholder meeting to approve the sale of its oil b ...

Daily Headline - global.abi.org - 12/17/2017 - 23:41 - 0 comments

Noble Faces Key Deadlines as Default Threat Looms

Noble Group Ltd., the embattled commodities trader, faces several significant deadlines as it wrestles with a $3.5 billion debt restructuring, Bloomberg News reported. Once Asia’s largest commodity trader, Noble’s decline since 2015 has been marked by lo ...

Daily Headline - global.abi.org - 12/07/2017 - 22:34 - 0 comments

Noble Group Foe Iceberg Fires a Fresh Salvo

Noble Group Ltd.’s long-time foe Iceberg Research made a fresh attack on the embattled commodity trader on Tuesday, saying that its balance sheet may still mask problems and that the company’s bid to restructure its obligations won’t lead to a turnaround ...

Daily Headline - global.abi.org - 11/28/2017 - 23:01 - 0 comments

Noble Takes a Loss on Latest Asset Sale to Tame Debts

Noble Group, the commodity trader wrestling with a $3.5bn debt pile, has continued its fire sale of assets, offloading an ethanol plant in Indiana for a loss, the Financial Times reported. The Singapore-listed company on Monday announced a deal to se ...

Daily Headline - global.abi.org - 11/27/2017 - 22:09 - 0 comments

Noble Group Default Now 'Probable,' Says Fitch as Rating Cut

A default by Noble Group Ltd. now “appears probable,” according to Fitch Ratings Inc., which cut the Hong Kong-based commodity trader’s credit rating by two steps, adding further pressure on executives as they seek to hammer out fresh terms with their le ...

Daily Headline - global.abi.org - 11/19/2017 - 23:31 - 0 comments

How an $8.4 Billion Takeover Could Save Noble

How does a company with $262 million in the bank and looming restructuring talks with creditors carry out an $8.4 billion takeover? Ask Noble Group Ltd. Harbour Energy Ltd., an investment vehicle in which Noble had a 75 percent stake in January, is due t ...

Daily Headline - global.abi.org - 11/16/2017 - 23:47 - 0 comments

How Noble Group's Possible Debt Restructuring Could Play Out

What a debt restructuring at Noble Group Ltd. might look like has become an even more pressing question after the beleaguered commodity trader started talks with stakeholders on potential options to address its capital structure. The company said discuss ...

Daily Headline - global.abi.org - 11/15/2017 - 23:40 - 0 comments

What Results Will Say About Embattled Noble Group

For more than two years, the story of whether Noble Group Ltd. will survive or implode has gripped the global commodities industry, Bloomberg News reported. The next chapter gets written on Thursday as the Hong Kong-based trader reports quarterly results ...

Daily Headline - global.abi.org - 11/08/2017 - 22:19 - 0 comments

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