Sometime back I wrote
Noble said it had secured US$2.25bn of commitments for a new credit facility.
It retains the confidence of its lenders, giving them enough info to keep them lending. The problem for investors is that we small investors will be the last to know when banks cut credit lines.
https://atans1.wordpress.com/2015/05/06/noble-what-matters/
From FT
The $2.3bn revolving credit facility has also come under scrutiny from analysts and traders after at least three tranches of the three-year loan were offered to other banks in the secondary market.
“”It could indicate the banks may be losing some confidence in the company,” said Wei Bin, analyst at Maybank Kim Eng in Singapore.
A hedge fund manager said the latest sell-off was notable because it was accompanied by large daily trading volumes.
“It is now trading in such volume it appears some of the major shareholders are changing their view on the stock,” said Robert Medd at GMT Research, an independent research firm. GMT has published several reports critical of Noble.
Phew glad I wasn’t tempted: https://atans1.wordpress.com/2015/05/14/noble-why-im-not-tempted/
Am I trying to catch a falling knife or shall I be greedy when others are fearful?
Time will tell me, right now I do look like a fool!