Noble Group gets another credit extension, but future still uncertain
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Hong Kong
TROUBLED commodity trader Noble Group on Thursday said it had received an extension on a loan until May next year, giving it crucial time for negotiations over debt restructuring. But the firm, based in Hong Kong and listed in Singapore, said the outcome of the discussions with creditors remained uncertain. The loan had already been extended twice until mid-December, as Noble battles to recover from years of crisis.
"The company has obtained an extension on a waiver in relation to the financial covenants in its committed unsecured revolving credit facility to May 18, 2018," Noble said in a written statement on Thursday.
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