atans1

Noble House rebuilding

In Accounting, China, Commodities on 18/12/2017 at 2:58 pm

Commodities trader Noble Group Ltd is negotiating a debt restructuring program with its creditors to stay out of an insolvency process and expects to receive proposals soon, its chairman said on Friday.

https://www.reuters.com/article/us-noble-grp-debt/noble-group-locked-in-talks-with-creditors-to-restructure-debt-idUSKBN1E9180

What is interesting is that FT reports that the creditors may swap their debts for equity. Should that happen present shareholders including sovereign wealth fund China Investment Corp, one of its its biggest shareholders, will be heavilt diluted.

Could be an interesting play then for the brave as there’ll be leverage and the new shareholders will have an incentive to keep the credit lines open. I’m looking at what assets remain.

The Noble House is dead. Long live the Noble House.

 

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