Noble strikes deal with some senior creditors
Proposal will dilute existing shareholders' stake to 10%
Singapore
DISTRESSED Noble Group has reached an agreement with some of its senior creditors in a scheme that would slash its existing debt by half and leave its current shareholders with only 10 per cent in the new group.
Noble said on Monday evening that a group of senior creditors, who represent about 30 per cent of its bonds and revolving credit facility, has agreed to swap their debt…
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