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Noble enters talks with stakeholders to address capital structure, liquidity position

2017-06-16T103522Z_1925120880_RC15D764F0E0_RTRMADP_3_NOBLE-ACCOUNTS.JPG
Amid widespread expectation that it will soon embark on debt restructuring, Noble Group said on Wednesday morning that it has started discussions with various stakeholders regarding potential options to address its capital structure and liquidity position.

AMID widespread expectation that it will soon embark on debt restructuring, Noble Group said on Wednesday morning that it has started discussions with various stakeholders regarding potential options to address its capital structure and liquidity position.

The discussions are still at a preliminary stage, said the distressed commodity trader.

The principles in the discussions are in line with the group's ongoing objectives of managing the maturity of its borrowings to optimise the use of available cash for the foreseeable future, and treating all stakeholders fairly, said the company.

"During this process, the company will continue to prioritise near term liquidity, and will aim to continue to operate on a normal basis," Noble said.

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It added that it will keep the market informed of material developments as and when they occur.

Noble shares closed on Tuesday down 2.2 Singapore cents, or 10 per cent, at S$0.198. The stock has lost some 88 per cent of its value so far this year.

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