(Source: www.businesstimes.com.sg)

Shares in Singapore-listed commodity trader Noble group rose nearly 10 per cent on Monday after a report that its creditors have agreed to push back a key repaymet deadline by four momths.

[SINGAPORE] Shares in Singapore-listed commodity trader Noble group rose nearly 10 per cent on Monday after a report that its creditors have agreed to push back a key repaymet deadline by four momths.

The firm, battered by concerns over its financial strength in recent weeks, has been in negotiations with banks over a US$2 billion credit facility, secured on its inventories and working capital. The facility is due to be rolled over by the end of next week.

Reuters reported on Friday, citing a source familir with the matter, that the expiry of the credit line has been extended until October. In exchange, creditors have asked Noble to find a strategic investor.

REUTERS

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