Noble Group to sell more businesses to pare debt; issues 2Q loss warning

SINGAPORE (July 26): Noble Group is planning to sell its Global Oil Liquids and North American Gas & Power businesses to further reduce indebtedness over the next two years.

The commodities trading group has also issued a loss warning for 2Q17.

Noble says the sales will generate significant cash proceeds and allow the group to retire the US$2 billion ($2.7 billion) Noble Americas Corp secured borrowing base revolving credit facility and the US$1 billion Noble Clean Fuels Limited secured borrowing base revolving credit facility.

---

Related Stories

• SingPost’s reorientation to regional logistics picks up steam
• SingPost announces five key strategies from strategic review including achieving scale in Australia
• Singapore wraps up Noble probe with $12.6 million civil penalty

---