Noble Group 03 (Feb 15 - Dec 18)

Re: Noble Group 03 (Feb 15 - Dec 17)

Postby winston » Sat Jun 17, 2017 10:09 am

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Noble group creditors agree to extend credit facility deadline: source

[HONG KONG] Creditors of struggling commodity trader Noble Group Ltd have agreed to offer a lifeline by pushing back a repayment deadline on a crucial credit line until October, a source familiar with the matter said on Friday.

The Singapore-listed company has been in negotiations with banks to roll over a US$2 billion credit facility, secured on its inventories and working capital. The facility is due to be rolled over by the end of next week.

The expiry of the credit line has been extended until October and in exchange creditors have asked Noble to find a strategic investor, the person said, declining to be named because the information is not public yet.

Source: REUTERS
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Re: Noble Group 03 (Feb 15 - Dec 17)

Postby winston » Mon Jun 19, 2017 6:32 pm

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Noble Group's Shares Surge Most in 18 Years on Loan Extension
by Jasmine Ng and Livia Yap

Stock soars for second day as trader reaches deal with lenders
Rebuilding business over long term still a challenge: Bocom

Noble Group Ltd.’s shares jumped the most since 1999 after the embattled commodity trader reached a deal with banks to extend a $2 billion credit facility, giving it more time to negotiate its future.

The stock climbed 46 percent to 47.5 Singapore cents, the highest close in four weeks. That follows an 8.3 percent advance on Friday, when the company reached an agreement to extend the loan, which was due to expire this month, for 120 days, according to people familiar with negotiations. The shares have still lost more than 70 percent this year.

Noble Group has endured several punishing years that have left the Hong Kong-based firm grappling with losses, a collapse in its securities, junk credit ratings and concerns over its ability to engineer a turnaround. The loan extension sets a new timer on the company’s attempts to find fresh investors, sell assets, or close unprofitable businesses.

“For a company that has been running mostly on bad news, this is sort of long overdue good news,” said Hao Hong, chief strategist at Bocom International Holdings Co. in Hong Kong.

“Having a large credit-line from a reputable bank is indeed a vote of confidence. Whether it’s enough to lift the group out of its current problem remains to be seen,” he said, adding that rebuilding its business over the long term is still a challenge.

Led by new chairman Paul Brough, Noble Group has hired investment banks Morgan Stanley and Moelis & Co. to review its options. In exchange for the extension, Noble Group will have to regularly provide more financial information, according to a person familiar with the negotiations.

It had asked banks to sign a new 364-day facility to replace the borrowing base, or to extend it to the end of the year. Noble Group declined to comment on Monday.

‘Relief’ Trade

The share gain is a reflection of “near-term relief” rather than optimism about the company, said Nicholas Teo, a trading strategist at KGI Securities (Singapore) Pte. Investors will be focusing on the next quarterly results as well as upcoming coupon payments on its bonds, he said by email.

Noble Group will have to pay a $12 million coupon on its $400 million perpetual bonds due this Saturday, and a deferral would be negative even as the trader has a right to do so without triggering default, Citigroup Inc. said in a note.

“We would doubt if the bank lenders find it prudent to allow the company to pay the perp coupon at this stage,” Citigroup said.

Noble Group will also have to make coupon payments on the 2020s, 2022s and 2018s bonds in July and September. The 2018 note was at 44.1 cents on the dollar, while the 2020 and 2022 bonds were at 36.5 cents and 37.7 cents respectively.

“Bond markets have not shared the optimism of the equity markets recently,” said Rick Mattila, international head of market strategy at MUFG Securities Asia Ltd.

“The reality is that unsecured debt maturities in the first half of 2018 look very challenging, irrespective of the recent credit extension.”

Source: Bloomberg

https://www.bloomberg.com/news/articles ... yptr=yahoo
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Re: Noble Group 03 (Feb 15 - Dec 17)

Postby behappyalways » Sat Jun 24, 2017 9:52 pm

Noble shares surge after Abu Dhabi-based investment firm becomes substantial shareholder
http://www.theedgemarkets.com.sg/noble- ... hareholder
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Re: Noble Group 03 (Feb 15 - Dec 17)

Postby winston » Fri Jul 07, 2017 8:11 am

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Noble shares surge as much as 38 percent on volume jump

Troubled commodity trader Noble saw its shares surge in Thursday afternoon trade
It wasn't clear what drove the sudden rush into the beaten down stock
The company told SGX it wasn't aware of a reason for the move

by Leslie Shaffer

Source: CNBC

http://www.cnbc.com/2017/07/06/noble-sh ... CKW,UU1V,1
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Re: Noble Group 03 (Feb 15 - Dec 17)

Postby winston » Fri Jul 07, 2017 8:13 am

TOL:-

Noble shares have risen a lot from the range low.

What was your blind spot that has prevented you to invest in such a spectacular rebound ?
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Re: Noble Group 03 (Feb 15 - Dec 17)

Postby winston » Tue Jul 11, 2017 9:31 am

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Noble Group: Abu Dhabi’s Goldilocks Investment Company stake has expanded from 5.03% to 8.19%, after buying 41.6 million shares for S$23.2 million via a market transaction on July 6.

Goldilocks first acquired a 5.03% in Noble on June 19 and 20, at an average price of 46.5 SG cents a share.

Abu Dhabi Financial Group said at the launch of the US$200 million fund last year that it will, through Goldilocks, seek out opportunities in equity markets where it can positively transform a company's fortune through constructive activism.

Source: UOBKH
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Re: Noble Group 03 (Feb 15 - Dec 17)

Postby behappyalways » Thu Jul 27, 2017 10:48 am

noble-group-slash-headcount-just-400
http://splash247.com/noble-group-slash- ... -just-400/
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Re: Noble Group 03 (Feb 15 - Dec 17)

Postby behappyalways » Thu Aug 10, 2017 6:06 pm

nobles-giant-writedown-proves-iceberg-research-right-after-two-year-fight
https://www.theedgesingapore.com/nobles ... year-fight
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Re: Noble Group 03 (Feb 15 - Dec 17)

Postby behappyalways » Fri Aug 11, 2017 11:52 am

noble-group-reports-us175-bil-2q-loss-hit-writedowns
https://www.theedgesingapore.com/noble- ... writedowns


behappyalways wrote:nobles-giant-writedown-proves-iceberg-research-right-after-two-year-fight
https://www.theedgesingapore.com/nobles ... year-fight
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Re: Noble Group 03 (Feb 15 - Dec 17)

Postby behappyalways » Sun Aug 13, 2017 5:13 pm

How the Commodities Bounce Could Finish Noble
https://www.bloomberg.com/gadfly/articl ... nish-noble
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