You are here
Stocks to watch: Noble, Oxley, Olam, EMS Energy
THE following stocks made announcements after the market closed on Tuesday, which might affect their trading on Wednesday:
Noble Group: The commodity trader's interest margin on the revolving credit facility will be more than doubled as a result of the credit rating downgrade. The firm will pay an interest of 225 basis points over Libor (London interbank offered rate) for its new loan, compared with 85 basis points for last year's one-year US$1.1 billion loan, Reuters reported, quoting unnamed sources.
Oxley Holdings: The property developer has entered into a joint venture (JV) with Metro Global to offer hospital services, including property management. The JV will start by managing a portfolio of properties provided by Oxley.
Olam International: The group has priced a US$300 million five-year notes at 4.5 per cent. Besides demand from private banks, there was also strong participation from institutional investors such as fund managers and banks which were collectively allocated 43 per cent of the notes.
EMS Energy: The marine and offshore service provider's external auditors have cast doubt on its ability to continue as a "going concern". But the group's directors, based on projected cash flows over the next year, have differed in their opinion.