Noble Group's Loan Deadline Looms Amid Restructuring Talks

Lack of waiver could push firm into liquidation: Bondcritic
Noble’s chairman said he expects extension to be granted

Noble Group Ltd. booklets sit on a table before a news conference during an investor day in Singapore, on Monday, Aug. 17, 2015. Noble Group Ltd. pledged to increase operating profit to more than $2 billion in the next three to five years as Asia's largest commodity trader sought to reassure investors about its long-term prospects.
Photographer: Nicky Loh/Bloomberg

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By Denise Wee

December 19, 2017 at 4:22 AM UTC

Updated on

December 19, 2017 at 10:48 AM UTC

This article is for subscribers only.

Noble Group Ltd., the embattled commodities trader, faces a key deadline on Wednesday that could complicate its negotiations with creditors as it wrestles with a $3.5 billion debt restructuring.

Lenders had agreed to waive certain rights under terms Noble Group committed to for its $1.1 billion revolving credit facility until Dec. 20. The company is talking to creditors about a restructuring that includes a debt-for-equity swap, according to people familiar with the negotiations. The big question is whether lenders will agree to extend the waiver.