Noble chases senior creditors for a deal before $379m bond due on 20 March

The bond has no grace period unlike the 2022 coupon that Noble decided to drop on Monday.

According to Bloomberg, citing unnamed sources, nearly a year after a shock trading loss sent it spiralling toward collapse, Noble Group Limited is chasing a group of senior creditors for a deal before a $379m bond maturity on 20 March.

Noble previously failed to pay a coupon on its 2022 bond that was due on Friday. Whilst that has a 30-day grace period, the $379m bond maturity does not.

The March 20 bond maturity is shaping up to be the denouement of a drama that began more than three years ago when then-unknown Iceberg Research started publishing critiques of Noble’s accounting. Since then, the company has shrunk to a shadow of its former self, battered by trading losses and massive write-downs.

"The clock is really ticking," said Jean-Francois Lambert, a consultant and former head of commodity trade finance at HSBC Holdings Plc. "The domino effect of default would be like a tsunami."

Read the full report here.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia