June 19, 2017 / 1:25 AM / a year ago

CORRECTED-REFILE-Noble shares up after report of credit facility extension

(Corrects paragraph 2 to say by the end of this week, not next week)

SINGAPORE, June 19 (Reuters) - Shares in Singapore-listed commodity trader Noble group rose nearly 10 percent on Monday after a report that its creditors have agreed to push back a key repayment deadline by four months.

The firm, battered by concerns over its financial strength in recent weeks, has been in negotiations with banks over a $2 billion credit facility, which is secured by its inventories and working capital. The facility is due to be rolled over by the end of this week.

Reuters reported on Friday, citing a source familiar with the matter, that the expiry of the credit line has been extended until October. In exchange, creditors have asked Noble to find a strategic investor. (Reporting by Miyoung Kim; Editing by Richard Pullin)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below