Noble gets extension on waiver for revolving credit facility

Commodities trader Noble Group said it has obtained an extension on a waiver in relation to the financial covenants in its committed unsecured revolving credit facility to May 18, 2018.
Commodities trader Noble Group said it has obtained an extension on a waiver in relation to the financial covenants in its committed unsecured revolving credit facility to May 18, 2018.PHOTO: REUTERS

SINGAPORE - Commodities trader Noble Group on Thursday (Dec 21) said it has obtained an extension to May 18, 2018, on a waiver in relation to the financial covenants in its committed unsecured revolving credit facility.

This means the facility will mature on this date.

It continues to be in discussions with its creditors. "While no assurance can be given as to the outcome of these discussions, the company believes that these are open and constructive, and are moving forward," it said.

"The company's objective in these discussions continues to be: (a) managing the maturity of its borrowings to optimise the use of available cash for the foreseeable future; and (b) treating all stakeholders fairly."