Asian Fixed Income/Frontier Market Research

Bondcritic

Bondcritic, established in 2009, is designed to be an independent credit research voice that helps investors gain insights and unbiased analyses on Asian fixed income market. Our mission is to discover deep-value Asian high-yield and distressed bonds with a bottom-up approach, together with the help of our proprietary ESG (Environmental, Social Development, and Governance) model. At the same time, we focus on bringing investment cases of unrated and unloved issuers to the general public.

Noble Group: Sighting the End of the Restructuring Road

Noble Group: Official Debt Restructuring In Motion Part II

Noble Group: Official Debt Restructuring In Motion Part I

Asia ex-Japan Credit - Analyst, Bondcritic

Brayan Lai

Asia ex-Japan Credit - Analyst

Credit

<h2><strong>Proposed Restructure Version II</strong></h2><p>Since Noble Group (“Noble”) announced its restructuring plan in January 2018, there has been a substantial amount of negotiation and backlash from its various vested interests. This has resulted in certain tweaks and changes to the company’s restructuring (see the chart below). Existing senior unsecured creditors have been rather silent on the surface, with two obvious main camps, those which have acceded or planning to accede to the restructuring support agreement…</p>

Proposed Restructure Version IISince Noble Group (“Noble”) announced its restructuring plan in January 2018, there has been a substantial amount of negotiation and backlash from its various vested interests. This has resulted in certain tweaks and changes to the company’s restructuring (see the chart below). Existing senior unsecured creditors have been rather silent on the surface, with two obvious main camps, those which have acceded or planning to accede to the restructuring support agreement…

Noble Group: Moving Forward With Expected Obstacles

Noble Group Ltd

Noble Group: Moving Forward With Expected Obstacles