NOBLE FACES
SINGAPORE/HONG KONG
SINGAPORE-listed Noble Group faces a key financing test over the next few weeks as it negotiates a rollover of credit facilities against the backdrop of a surprise quarterly loss that pummelled market confidence in the commodity trader.
A US$2 billion (RM8.6 billion) credit facility, secured on its inventories and working capital, was due to be rolled over by the end of June. Noble has already drawn US$620 million cash from the one-year facility.
“We are starting to talk to the core participant banks about a new borrowing base facility which