March 14, 2018 / 2:51 AM / 3 months ago

Noble Group share trading halted pending statement

SINGAPORE, March 14 (Reuters) - Trading in shares of Noble Group was halted on Wednesday, just days after the commodities trader said it was very close to reaching final terms with a group of senior creditors to restructure its debt.

The Singapore-listed company asked for the trading halt pending the release of a statement.

Embattled Noble has been negotiating a $3.4 billion debt-for-equity swap - crucial to its survival - after selling billions of dollars of assets, taking hefty writedowns and cutting hundreds of jobs over the past three years.

The Hong Kong-headquartered firm, which reported a $4.9 billion loss for 2017, also said on Monday that it had opted not to pay the coupon on a $750 million bond which was due last week. Noble has a $379 million bond that matures on March 20. (Reporting by Anshuman Daga Editing by Kenneth Maxwell)

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