Noble Group Share Trading Halted

Trading in shares of Noble Group (NOBGF) 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.