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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

Hong Kong Court Hears Moody's Appeal Over 'Red Flags' Report

Hong Kong's Court of Appeal on Wednesday began hearing Moody's appeal against a tribunal decision that partly upheld regulatory action imposed on it for a report on Chinese firms, in what is considered a landmark case for the financial centre. ...

Daily Headline - global.abi.org - 01/11/2017 - 00:26 - 0 comments

Hong Kong Losing Status As China’s ‘Great Mall’

Kingdom Jewellery is trying to stand out among the eerily quiet luxury stores in Hong Kong’s Causeway Bay, once the world’s most expensive shopping district in terms of rents. But while it has hung signs promoting a “crazy sale” and payment by instalment ...

Daily Headline - global.abi.org - 09/11/2016 - 20:36 - 0 comments

Hacked Bitcoin Exchange’s Clients to Take 36% Loss

Crypto-currency exchange Bitfinex, which lost $72 million to hackers last week, told customers on Sunday they would lose just over 36 percent of the assets they had on the platform but would be compensated for these losses with tokens of credit, the In ...

Daily Headline - global.abi.org - 08/07/2016 - 21:46 - 0 comments

Kaisa Seeks U.S. Bankruptcy Court Aid in Hong Kong Restructuring

Kaisa Group Holdings Ltd., which last year became the first Chinese real estate developer to default on dollar bonds, is seeking to use U.S. bankruptcy law to help its debt reorganization in a Hong Kong court, Bloomberg News reported. The Shenzhen, China ...

Daily Headline - global.abi.org - 05/05/2016 - 20:47 - 0 comments

McAleese In Exclusive Talks With Hong Kong's SC Lowy Over Debt Restructure

McAleese has started exclusive negotiations with Hong Kong-based hedge fund SC Lowy over a financial restructuring and extended its trading suspension for another month, The Sydney Morning Herald reported. The troubled transport group received three ...

Daily Headline - global.abi.org - 03/30/2016 - 22:14 - 0 comments

Mongolian Mining Loan Nonpayment Triggers Cross-Default on Bonds

Mongolian Mining Corp. didn’t make principal and interest payments on a $200 million loan facility and wasn’t able to get a temporary waiver from banks, triggering a cross-default on its bonds, Bloomberg News reported. The miner failed to make the paymen ...

Daily Headline - global.abi.org - 03/23/2016 - 21:40 - 0 comments

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