Noble seeking renewal of loans without further asset sales: source

London

TRADING house Noble Group is under no pressure from banks to sell assets and is not planning further divestments as it negotiates more than US$4 billion of new and refinanced loans with lenders, a senior source close to the process said.

The renewal of Noble's loans is seen by analysts as the most significant development this year for the trader of commodities ranging from iron ore to oil, after suffering a slide in investor confidence over the past year.