Marine Link
Monday, June 18, 2018

Noble Group Share Trading Halted

Maritime Activity Reports, Inc.

March 14, 2018

Trading in shares of Noble Group was halted on Wednesday, just days after the commodities trader said it was very close to reaching final terms with a group of senior creditors to restructure its debt.
 
The Singapore-listed company asked for the trading halt pending the release of a statement.
 
Embattled Noble has been negotiating a $3.4 billion debt-for-equity swap - crucial to its survival - after selling billions of dollars of assets, taking hefty writedowns and cutting hundreds of jobs over the past three years.
 
The Hong Kong-headquartered firm, which reported a $4.9 billion loss for 2017, also said on Monday that it had opted not to pay the coupon on a $750 million bond which was due last week. Noble has a $379 million bond that matures on March 20.
 
 
(Reporting by Anshuman Daga Editing by Kenneth Maxwell)
Maritime Reporter Magazine Cover Jun 2018 - Green Marine Technology

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News