Noble's US$5b estimated loss could push creditors to accept debt deal: analysts
Singapore
A MASSIVE annual loss estimate by commodities trader Noble Group makes it more likely that creditors will back its US$3.4 billion debt-for-equity restructuring to ensure the company's survival, analysts said.
Noble, which flagged an annual loss of up to US$5 billion on Monday, announced an initial deal with creditors last month to halve its senior debt and give them 70 per cent of the company, with existing equity holders diluted to 10 per cent.
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