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China’s Noble to skip coupon due July 30 on $1.18 billion 6¾% notes
By Susanna Moon
Chicago, July 26 – Noble Group Ltd. said it will forgo paying interest due July 30 on its $1,176,920,000 principal amount of 6¾% senior notes due 2020.
The company’s board made the decision “in view of the binding restructuring support agreement dated March 14,” according to an announcement.
Under the restructuring support agreement signed on March 14, holders would exchange their securities for $25 million of new 2½% perpetual capital securities.
Noble Group is a Hong Kong-based conglomerate that focuses on raw materials.
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