SINGAPORE (Reuters) – Noble Group Ltd (NOBG.SI) faces a key shareholder meeting on Monday as the shrivelled commodity trader races to clinch a last-ditch $3.5 billion debt restructuring deal to stay afloat and put a three-year crisis behind it.
FILE PHOTO: The company logo of Noble Group is displayed at its office in Hong Kong, China January 22, 2016. REUTERS/Bobby Yip/File Photo
Shareholders are being asked to support a debt-for-equity swap that will leave them with just 20 percent of the business. Multiple sources familiar with the matter say the proposal is expected to succeed.
The meeting is due to start at 2:30 local time (0630 GMT).
Noble, founded in 1986 by Richard Elman, who took advantage of a commodities bull run …
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