Pressure mounts on ISDA committee to end Noble's credit default swap impasse
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Hong Kong
PRESSURE is building on an International Swaps & Derivatives Association (ISDA) panel of investors and bankers to end Noble Group Ltd's credit default swap (CDS) impasse.
ISDA's determinations committee was scheduled to meet on Wednesday to reconsider whether Noble triggered a credit event - the precondition for a payout on CDS contracts - when it arranged a 120-day extension to a loan facility in June. Once Asia's largest commodity trader, Noble is now fighting for survival more than two years into a crisis marked by accounting criticisms, a plunge in its securities and credit-rating downgrades.
Share with us your feedback on BT's products and services
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
