Noble swaps notes in Sundance for cash, shares, options worth A$27.6m
Singapore
TROUBLED commodities trader Noble Group is forgoing its convertible notes in debt-ridden Australian miner Sundance Resources in exchange for cash, new shares and options worth A$27.6 million (S$27.3 million).
This includes A$11.9 million in cash, which Noble Group said "will be used for general corporate purposes", as well as 475.8 million new shares, or a 1.5 per cent interest, and 2.38 billion options, which, if exercised, represent as much as another 9.7 per cent of Sundance.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
OUE wins tender to lease, develop new ‘zero-energy’ hotel at Changi Airport’s T2
Roku’s warning on ad-supported streaming competition clouds upbeat earnings
Stocks to watch: CLI, Great Eastern, MIT, Sheng Siong, iFast, OUE, Far East Orchard
ByteDance prefers TikTok shutdown in US if legal options fail: sources
CapitaLand Investment posts total revenue of S$650 million for Q1
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply