By Anshuman Daga
Noble Group clinches restructuring deal with group of creditors
SINGAPORE (Reuters) – Commodities merchant Noble Group <NOBG.SI> has finalised a restructuring agreement with a group of senior creditors holding 46 percent of its debt, and is in talks with others, as it races to launch a deal crucial to its survival.
The embattled firm has been negotiating a $3.4 billion debt-for-equity swap for months, after selling billions of dollars of assets, taking hefty writedowns and cutting hundreds of jobs over the past three years.
Hong Kong-headquartered Noble, once Asia’s biggest commodity trader with ambitions to take on global giants such as Glencore <…
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