Deals
Where Does Noble Probe Leave $3.5 Billion Restructuring?
- Trader and its creditors are racing to meet Nov. 27 deadline
- Deal requires approval from several Singaporean regulators
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After more than a year of marathon restructuring negotiations, Noble Group Ltd. looked to be entering the home stretch. The debt deal, which chairman Paul Brough described as "probably the most complex restructuring ever undertaken in Asia," had run the gauntlet of all-night negotiations and court hearings. It was due to complete in less than a week.
Now the $3.5 billion restructuring hangs in the balance after Singaporean authorities on Tuesday announced a multi-agency investigation into the Asia-focused commodity trader, including a probe by Singapore’s white-collar crime squad.