Noble faces key Dec 20 deadline amid restructuring talks
Hong Kong
NOBLE Group Ltd, the embattled commodities trader, faces a key deadline on Wednesday that could complicate its negotiations with creditors as it wrestles with a US$3.5 billion debt restructuring.
Lenders had agreed to waive certain rights under the terms that Noble Group committed to for its US$1.1 billion revolving credit facility until Dec 20. The company is talking to creditors about a restructuring that includes a debt-for-equity swap, according to people familiar with the negotiations. The big question is whether lenders will agree to extend the waiver.
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