SINGAPORE (Reuters) - Commodities trader Noble Group said it has finalised a binding agreement with a group of senior creditors holding 46 percent of its debt, and was in talks with others, on a restructuring deal crucial to its survival.
Noble said in a statement on Wednesday that its Restructuring Support Agreement (RSA) had been signed by creditors known as the Ad Hoc Group. Noble is also seeking support from its senior creditor, Deutsche Bank, and trade finance provider, ING Bank.
Noble said the Ad Hoc Group was also in contact with other senior creditors who were holding an additional 15 percent of claims and had indicated their broad support for the deal.
Embattled Noble has been negotiating a $3.4 billion debt-for-equity swap, after selling billions of dollars of assets, taking hefty writedowns and cutting hundreds of jobs over the past three years.
(Reporting by Anshuman Daga; Editing by Tom Hogue)
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