You are here: Home » Reuters » News
Business Standard

Noble shares soar after last-minute debt lifeline, worries persist

Reuters  |  HONG KONG/SINGAPORE 

By Umesh Desai and Aradhana AravindanHONG KONG/SINGAPORE (Reuters) - A four-month credit extension for cash-strapped Noble Group Ltd sent the commodity trader's shares up almost 50 percent on Monday, though traders, analysts and industry sources warned the reprieve was likely to be only temporary.The Singapore-listed firm on Friday persuaded banks to extend a $2 billion credit line, due to be rolled over by the end of this week, but it was asked to find a strategic investor, a person familiar with the matter told Reuters.Noble, which has been seeking a cash injection for months, declined to ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Mon, June 19 2017. 15:51 IST
RECOMMENDED FOR YOU