Noble Group *Official* (SGX: CGP)

[Shion]

Noble launches US$1 bil loan facility: sources

Noble launches US$1 bil loan facility: sources

http://www.theedgemarkets.com/sg/article/noble-launches-us1-bil-loan-facility-sources

HONG KONG/SINGAPORE (April 5): Noble Group will have to fork out more than double in interest margin on a US$1 billion ($1.35 billion) unsecured loan it is raising with banks, as a fall out of the credit rating downgrade the commodity trader has faced, sources familiar with the matter said on Tuesday.

The company has launched a 364-day revolving credit facility, which will pay an interest margin of 225 basis points over LIBOR compared with 85 basis points interest margin for last year's one-year US$1.1 billion loan, said the sources, who declined to be identified as the information is not public.

The loan comes on top of a US$2.5 billion secured financing that Noble is seeking in the United States from its lenders and will help it to partially repay its debt maturing in May.

Loss-making Noble has mandated eight banks including Societe Generale, MUFG, HSBC and DBS as lead arangers, the sources said.

Noble, HSBC and Societe General declined comment. Bank of Tokyo-Mitsubishi UFJ and DBS had no immediate response.

 

[eightmth]

Unloaded my 32000 shares at 0.42 for a small profit...got them at average 0.38 in Feb...I think it will be a rough April but GL to all those still holding.

Sent from Samsung SM-G935F using GAGT

 

[OngHuatHuat]

UPDATE 1-Noble Group launches $1-billion loan facility - sources
Tue Apr 5, 2016 12:48pm BST

* Unsecured loan priced at 225 basis points interest margin

* Interest margin more than doubles from last year

* Noble seeking responses to loan by May 3 (Adds details on the loan)

By Chien Mi Wong and Anshuman Daga

HONG KONG/SINGAPORE, April 5 (Reuters) - Noble Group will have to fork out more than double in interest margin on a $1-billion unsecured loan it is raising with banks, as a fall out of the commodity trader's credit rating downgrades, sources familiar with the matter said.

The Singapore-listed firm has launched a 364-day revolving credit facility, which will pay an interest margin of 225 basis points over LIBOR, compared with 85 basis points interest margin for last year's one-year $1.1 billion loan, said the sources, who declined to be identified as the information is not public.

Noble, which previously said the latest loan would come at a higher price, declined to comment on the story on Tuesday.

A successful raising of Noble's loan, which is not backed by assets, will help it repay part of its debt maturing in May and could reassure investors about its finances following a $1.2-billion writedown on assets and a full-year loss.

Noble, one of the biggest traders of commodities from coal to iron ore to oil, is battling to boost investor confidence after Standard & Poor's and Moody's cut their investment grade ratings on the company to junk, following a bruising accounting dispute and weak markets.

Hong Kong-headquartered Noble has said its overall funding costs were decreasing as it was stepping up low-cost secured lending from banks and cutting capital spending.

Its latest loan comes on top of a $2.5 billion secured financing that it is seeking in the United States from its lenders.

Noble has launched the $1-billion loan into general syndication and the deadline for responses is May 3, the sources said. Previously, the company was said to be looking to raise $1.5 billion in unsecured loans.

Loss-making Noble has mandated eight banks including Societe Generale, MUFG, HSBC and DBS as lead arangers, the sources said.

HSBC and Societe Generale declined to comment. Bank of Tokyo-Mitsubishi UFJ (MUFG) and DBS had no immediate response.

Shares in Noble, which has been grappling with a rout in commodity prices and an attack on its accounting practices, plumbed 12-year lows in January, but have recovered around 40 percent over the past two months. (Reporting by Chien Mi Wong of LPC and Anshuman Daga in SINGAPORE; Editing by Denny Thomas and Himani Sarkar)

 

[Socrates469bc]

more actions from noble expected. must grab seat and watch now. better than tvb greed of man.

 

[OngHuatHuat]

A lot of greedy contra people in noble. Now they are burnt.

more actions from noble expected. must grab seat and watch now. better than tvb greed of man.

 

[OngHuatHuat]

Noble gonna crash below 0.40 on Monday?

 

[Mecisteus]

A lot of greedy contra people in noble. Now they are burnt.

good thing they contra so loss is a few % only. imagine if they hold from $1+. wait 5 years also cannot break even.

 

[OngHuatHuat]

If next quarter show good profit, may see 0.60 easily.

If next quarter result cui, means drop below 0.40.

Drop fast rise also fast.

If noble is low beta stock like M1, of course wait 5 years also cannot see 1 dollar again.

good thing they contra so loss is a few % only. imagine if they hold from $1+. wait 5 years also cannot break even.

 

[manutd08]

If next quarter show good profit, may see 0.60 easily.

If next quarter result cui, means drop below 0.40.

Drop fast rise also fast.

If noble is low beta stock like M1, of course wait 5 years also cannot see 1 dollar again.

interest for loans charged monthly or at end of loan?

 

[OngHuatHuat]

Anyone knows when is noble short term debt due? What will happen if they cannot refinance in time?

 

[OngHuatHuat]

You are asking me? People who contra? Or general loan? Or noble debt?

interest for loans charged monthly or at end of loan?

 

[OngHuatHuat]

Please put your short picture here.

GPGT is the best. Monday is good for shorting. !

this stock will soon be worthless

interest cost on debt has double due to weak credit rating, as interest rates move up, interest cost may even quartriple

the company is also making major losses

big loss in 2015 and an even bigger loss is expected in 2016

target price ZERO!

I will use CFD to short noble till the last drop

SURE HUAT GAO GAO

HUAT AH $$$$$$$$$$$$$$

 

[OngHuatHuat]

Will gpgt when noble goes to zero?
Means don't dare to short?

I will GPGT when noble goes to zero

and u will see all the profits i made

SHORT NOBLE GAO GAO

SURE HUAT $$$$$$$$$

 

[OngHuatHuat]

Who cares about you short or not? Haha....

It will be good if you GPGT your short, if not you type 100 posts also no use.

bears will attack and noble will be worth zero by year end 2016

if u are holding noble just get out

if u are not holding noble, just short

 

[OngHuatHuat]

Nobel short term debt will be due soon.
It will be a Gg if it cannot refinance. Stockbot is correct.

 

[OngHuatHuat]

Stock value may go to zero if noble cannot get refinance deal!

 

[OngHuatHuat]

Yes, of course!!!

http://singapore-stocks-investing.blogspot.sg/2015/02/noble-group-worth-ten-cents.html

is noble group worth 10 cents?

YES! and maybe lower!

 

[manutd08]

You are asking me? People who contra? Or general loan? Or noble debt?

noble debt

 

[OngHuatHuat]

Well, if you want to short, you need to find a Cfd provider that allows you to short first.

DOWN 80% over the last 5 years

downtrend intact towards ZERO VALUE


https://icebergresearch.files.wordpress.com/2016/02/report-4-credibility2.pdf

TARGET PRICE 10 cents!!!!!!!!!

even toilet paper is worth more!!!!


this stock will soon be worthless

interest cost on debt has double due to weak credit rating, as interest rates move up, interest cost may even quartriple

the company is also making major losses

big loss in 2015 and an even bigger loss is expected in 2016

balance sheet is overstated as commodities prices are still low, as bigger write offs are expected

net debt will be way more than net assets

target price ZERO!

stock and bonds holders of noble will LOSE ALL THEIR MONEY

I will use CFD to short noble till the last drop

SURE HUAT GAO GAO

HUAT AH $$$$$$$$$$$$$$


$$$$$$$$$$$$$$$$$$$$$$

 

[Average]

Woah i abandon thread first, move too fast liao.