Noble Group receives commitment on trade finance facility

The debt-stricken commodity trader Noble Group will receive USD 100 million for LNG business from existing shareholders if rescue plan goes through.

Photo: Chrevon

Noble Group has ensured the commitment of USD 100 million in a presumably much needed finance facility from a group of existing shareholders in the listed commodity trader, according to a stock market announcement submitted to the Singapore Stock Exchange Friday.

The group of shareholders include funds such as Value Partners and Pinpoint Asset Management as well as others, which have a collective share holding of five percent in Noble Group, and which have approved a restructuring proposal from the company.

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