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Noble Group pays coupon on 2020 bond: market sources

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Singapore-listed commodities trader Noble Group Ltd has paid the coupon on its 2020 bond, market sources said on Tuesday.

[SINGAPORE] Singapore-listed commodities trader Noble Group Ltd has paid the coupon on its 2020 bond, market sources said on Tuesday.

The payment of about US$40 million to bond holders comes after the trader last week announced asset sales and flagged a quarterly loss of as much as US$1.8 billion. Market participants were looking to the coupon payment as an indication of Noble's ability to service debt.

An external spokeswoman for Noble had no immediate comment.

Noble's US$1.2 billion bonds due 2020 had a 6.75 per cent coupon due on July 29. Last month, Noble deferred a payment on its perpetual bonds, triggering a sell-off.

Noble's shares were 12 per cent higher in late morning trade while its 2020 bonds were up about three points at 36.5/37.5 cents on the dollar.

REUTERS

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