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ISDA Expected to Address Chaos Over Noble CDS on Wednesday

The International Swaps and Derivatives Association (ISDA) said it will publish a statement on Wednesday addressing the widespread confusion around Noble Group’s credit-default swaps, which has pitted the world’s biggest investment banks against each oth ...

Daily Headline - global.abi.org - 08/29/2017 - 18:01 - 0 comments

Noble Group's Net Debt Balloons as Constraints Hurt Trading

Noble Group Ltd.’s net debt surged by almost $1 billion over the first six months as trading losses and constrained access to funds heaped further pressure on the commodity trader as it battles for survival, Bloomberg News reported. Net debt expanded $94 ...

Daily Headline - global.abi.org - 08/10/2017 - 22:25 - 0 comments

Dalian Wanda Reshuffles $1 Billion of Assets

Chinese property tycoon Wang Jianlin has embarked on a big asset reshuffling within his empire to reduce the leverage of Dalian Wanda’s listed arm as regulators increase the pressure on acquisitive dealmakers to cut debt, the Financial Times reported ...

Daily Headline - global.abi.org - 08/10/2017 - 22:26 - 0 comments

Cosco/OOIL: Banking on an Upturn

Hong Kongers are generally reluctant to relinquish control to Beijing. But a cash offer at a 31 per cent premium to Friday’s closing price convinced the family of the territory’s former chief executive, Tung Chee-Hwa, to sell its 68 per cent stake in Ori ...

Daily Headline - global.abi.org - 07/10/2017 - 22:04 - 0 comments

Noble Seeks Debt Waiver From Lenders

Noble Group, the Hong-Kong based commodity trader, has asked lenders to waive a debt covenant tied to a $1.1bn credit line that matures next year while it continues work on a plan to recapitalise the business, the Financial Times reported. Noble want ...

Daily Headline - global.abi.org - 07/06/2017 - 22:12 - 0 comments

Isda to Decide Whether Noble Loan Extension Will Trigger CDS Payout

The International Swaps and Derivatives Association (Isda) will meet on Thursday to decide whether an extension of one of Noble Group’s loan facilities will trigger a payout on credit-default swaps (CDS) linked to the struggling commodities trader, the ...

Daily Headline - global.abi.org - 06/20/2017 - 21:33 - 0 comments

Noble Group's $2 Billion Loan Deal Prompts Default-Swap Question

Just days after Noble Group Ltd. secured a $2 billion loan extension, some investors in the credit protection market are looking to get paid. The International Swaps & Derivatives Association has been asked to decide whether a four-month loan extensi ...

Daily Headline - global.abi.org - 06/19/2017 - 22:39 - 0 comments

Isda to Decide Whether Noble Loan Extension Will Trigger CDS Payout

The International Swaps and Derivatives Association (Isda) will meet on Thursday to decide whether an extension of one of Noble Group’s loan facilities will trigger a payout on credit-default swaps (CDS) linked to the struggling commodities trader, the ...

Daily Headline - global.abi.org - 06/20/2017 - 21:28 - 0 comments

Noble Group Slips Further as Banks Weigh Options

Noble Group took another tumble on Wednesday following a report the company’s main banks are in last-ditch talks over whether to give the commodities trader more time to find a white knight investor or to force it into restructuring or liquidation. the ...

Daily Headline - global.abi.org - 06/06/2017 - 23:25 - 0 comments

Noble Group Shares Routed as S&P Flags Risk of Possible Default

Noble Group Ltd.’s crisis deepened on Tuesday after S&P Global Ratings flagged the risk that the embattled commodity trader may default on its debt, triggering a 36-minute plunge in the company’s shares, an exchange query, and a trading halt ahead of ...

Daily Headline - global.abi.org - 05/23/2017 - 00:04 - 0 comments

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