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Noble gets nod from 75% of senior creditors for restructuring support agreement

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NOBLE Group has returned fire at Goldilocks Investment Company, blasting lawsuits its major shareholder has filed against it as "without merit" and an "intentional attempt to obfuscate, delay, derail and/or prevent" the company from implementing what is says is a do-or-die restructuring plan.

EMBATTLED commodities firm Noble Group on Wednesday said that it has secured approval from 75 per cent of the senior creditors to take on a restructuring support agreement (RSA) - 75 per cent being the approval threshold for the RSA.

The RSA, which will see the restructuring of the existing senior claims and other unsecured liabilities, includes the provision of a new three-year committed US$600 million trade finance and a US$100 million hedging facility.

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