Fresh Twist in Noble Group’s Collapse Is Another Restructure (1) – Bloomberg Tax

fresh-twist-in-noble-group’s-collapse-is-another-restructure-(1)-–-bloomberg-tax

The epic downfall of what was once Asia’s largest commodity trader took another turn, with Noble Group Holdings Ltd. laying out plans for its second restructuring in three years.

The company said Friday it had reached an in-principle agreement with creditors and will reorganize the ownership of some assets after its debt reached an “unsustainable” level. The process will see its debt fall to about $500 million from about $1.5 billion now.

Formerly a behemoth of Asia’s commodity trading landscape, with a market value of more than $10 billion, Noble has collapsed into a shell of its former self amid …

You May Also Like

About the Author: Kate