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Noble says it has fully redeemed its senior notes due 2015 and 2020
NOBLE Group said on Thursday that it has fully redeemed the 2015 and 2020 securities the day before.
The US$500 million 4.875 per cent senior notes due 2015 have been fully redeemed on Aug 5, the scheduled maturity date and there are no 2015 securities outstanding.
The commodities group said it has also redeemed in full US$235 million of the 6.625 per cent senior notes due 2020, on Aug 5 and there are no 2020 Securities outstanding.
The troubled Hong Kong-based group had told investors at the start of the week that it had sufficient cash and liquidity to fund its bond redemption and operations.
Addressing market rumours over its ability to fund the US$735 million bond redemption due on August 4, Noble said it has ample funds to do so and will still have readily available cash of well over US$1 billion after.
"Noble has sufficient cash and liquidity to meet its obligations and operate its businesses,'' it had said.
"In addition to this significant readily available cash, we would also like to provide the following update in terms of our liquidity and available credit as of the end of July: namely, we currently have around US$15 billion in bank lines.''
Noble, whose shares had lost more than half their value since February after Iceberg queried its accounting policies, saw its share price rebound on short-covering after the assurance.
But the recovery proved short-lived, with the stock sliding S$0.035 to S$0.565 on volume of 160.4 million shares on Wednesday.