Noble Group to negotiate with banks for $2.8b loan
The credit facility is due to be rolled over end-June.
A report from Reuters noted that Singapore-listed Noble Group faces a key financing test over the next few weeks as it negotiates a rollover of credit facilities against the backdrop of a surprise quarterly loss that pummelled market confidence in the commodity trader.
A $2.8b (US$2b) credit facility, secured on its inventories and working capital, is due to be rolled over by the end of June. Noble has already drawn about $620 million cash from the one-year facility.
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