atans1

Noble House plays noble move

In China, Commodities on 05/08/2015 at 1:07 pm

It seemed like shooting fish in a barrel for hedgies. Short Noble during the period when it or senior executives could buy shares. Worked for a bit until the Noble House shafted them well and trul: shorts have to be covered as the price shoots up two days in a row.

Noble came out on Monday to say it
— had received proposals for “potential financings, and strategic and/or investment options”;
— has ample cash and liquidity to meet its obligations and operate its busines It can fund the US$735 million bond redemption due Aug 4, and will still have readily available cash of well over US$1 billion. It also said it has US$15 billion in bank lines.); and
— would bring forward the publication of its second-quarter results and the report by PwC on its accounting practices to Aug 10.

This super long holiday weekend will allow the hedgies to drown their sorrows.

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