Noble Group's misery deepens as investors zero in on debt talks

(June 6): Noble Group shares extended their decline to the lowest level since 2000 amid rising investor concern that the embattled commodity trader may not be able to engineer a turnaround even as it presses on in talks with core banks to try to secure more funding.

The stock tumbled as much as 11% to 28.5 cents and traded at 29.5 cents at 11:46 a.m., heading for the sixth drop in seven sessions. The shares have sunk 83% this year, cutting the group’s market value to $387 million. The company has about US$2.1 billion ($2.9 billion) of debt obligations due by the end of 2018, according to data compiled by Bloomberg.

An external media spokesperson for Noble Group declined to comment.

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