SINGAPORE – Noble Group and a group of senior creditors have signed an agreement on its proposed restructuring plan, the company said in a filing with the Singapore Exchange on Wednesday morning (March 14).
The restructuring support agreement (RSA) has been signed by the ad-hoc group of creditors, which represents 46 per cent of existing senior claims. Deutsche Bank AG, an existing senior creditor and future trade finance provider, has also signed the RSA, while ING Bank, as an existing trade finance provider and fronting bank, is in the process of seeking credit approval to do the same. The two banks represent a further 4 per cent of existing senior claims.
The advisers to the ad-hoc group are in contact with creditors who hold a …
Read the full article at: http://www.straitstimes.com/business/companies-markets/noble-and-group-of-creditors-sign-support-for-debt-restructuring-plan