30
Jan
08:52
Noble tries to turn the corner
Noble Group says it has reached an agreement with creditors for a debt-for-equity swap. The struggling trading house has seen its value plummet and now its shareholders will have to cede most of the company to creditors, Kallanish notes.
Under the agreement Noble will restructure $3.5 billion in debts, with half of the debt replace by 70% of the equity of the company. The plan must still be approved by shareholders and other stakeholders. The company’s exi…
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Anonymous
Very good overview of the weekly steel market.
Anonymous