SINGAPORE (Reuters) – Noble Group (NOBG.SI) improved the terms of its controversial $3.4 billion debt restructuring deal and won the support of its biggest shareholder as the commodity trader seeks to complete the vital transaction.
Singapore-listed Nobles debt-for-equity swap has already won the backing of more than 83 percent of the holders of its senior debt but it also needs a majority of its shareholders to approve the restructuring.
The revised structure granting shareholders 15 percent equity in New Noble has my full support, Noble founder Richard Elman said in Nobles statement on Monday. Elman resign…
Read the full article at: https://www.reuters.com/article/us-noble-group-debt/noble-group-sweetens-debt-restructuring-deal-gets-founders-backing-idUSKBN1HN0Y8