Noble Group

(16-12-2015, 09:53 PM)Behappyalways Wrote: 51% = $1.5b. 49% = $750m???....firesale ^^)

The company already owns a 51 percent stake in Noble Agri, which it purchased last year for $1.5 billion. Beijing-based Cofco officials didn’t immediately respond to e-mails or texts seeking comment.

Noble is seeking about $750 million for the stake and could get further compensation depending on how the agribusiness performs, the person said.


Noble Group, Asia's Biggest Commodities Trader, Looks to Sell Agriculture Unit Stake
http://www.bloomberg.com/news/articles/2...lture-unit

They are definitely starting to get desperate, which should not be the case if they are still raking in the profits...

Noble is not "too big to fail" and looks like Temasek is not gonna be stepping in this time. Perhaps it will reach 10cents faster than OSIM ;P

Noble's substantial sovereign shareholder is cic not temasek. Olam experienced a similar event but temasek intervened early and attempted a take over. As a result, olam cost of debt reduced by approx 2%

Nobles cic did not take the same approach

Noble is in trouble, due to low credit confidence. Its bonds are valued close to 50 cents on a dollar now. The share price drop to 31 cents per share, as-of-now.

(not vested)

Noble Group bonds push debt from junk to distressed

SINGAPORE (Jan 8): Bond investors are indicating they expect Singapore-listed Noble Group ( Valuation: 1.80, Fundamental: 0.35)'s troubles to get worse as a selloff in its notes sent them into distressed territory.

The commodity trader's US dollar bonds due in 2020, its most liquid, dropped 12 cents on the dollar in the last two days to 52.79 cents on Friday (Jan 8), their lowest on record, implying a yield of 26.4% for the company's debt. That puts it on par with issuers such as the Republic of Venezuela and US retailer Toys "R" Us Inc, which rating firms have indicated are likely to miss debt payments in the short term.

Noble has also become the riskiest company in Asia to hedge against non-payment of debt based on credit-default swaps contracts.
...
http://www.theedgemarkets.com/sg/article...distressed

(08-01-2016, 04:26 PM)CityFarmer Wrote: Noble is in trouble, due to low credit confidence. Its bonds are valued close to 50 cents on a dollar now. The share price drop to 31 cents per share, as-of-now.

(not vested)

Noble Group bonds push debt from junk to distressed

SINGAPORE (Jan 8): Bond investors are indicating they expect Singapore-listed Noble Group ( Valuation: 1.80, Fundamental: 0.35)'s troubles to get worse as a selloff in its notes sent them into distressed territory.

The commodity trader's US dollar bonds due in 2020, its most liquid, dropped 12 cents on the dollar in the last two days to 52.79 cents on Friday (Jan 8), their lowest on record, implying a yield of 26.4% for the company's debt. That puts it on par with issuers such as the Republic of Venezuela and US retailer Toys "R" Us Inc, which rating firms have indicated are likely to miss debt payments in the short term.

Noble has also become the riskiest company in Asia to hedge against non-payment of debt based on credit-default swaps contracts.
...
http://www.theedgemarkets.com/sg/article...distressed

High chance it will be kicked out from STI component in the next review...

(08-01-2016, 04:26 PM)CityFarmer Wrote: The commodity trader's US dollar bonds due in 2020, its most liquid, dropped 12 cents on the dollar in the last two days to 52.79 cents on Friday (Jan 8), their lowest on record, implying a yield of 26.4% for the company's debt. That puts it on par with issuers such as the Republic of Venezuela and US retailer Toys "R" Us Inc, which rating firms have indicated are likely to miss debt payments in the short term.

Wow, does that mean buying their bonds is safer than buying the mother shares? On a side note, I didnt know Toys R Us not doing well.

(08-01-2016, 08:17 PM)Bibi Wrote:

(08-01-2016, 04:26 PM)CityFarmer Wrote: The commodity trader's US dollar bonds due in 2020, its most liquid, dropped 12 cents on the dollar in the last two days to 52.79 cents on Friday (Jan 8), their lowest on record, implying a yield of 26.4% for the company's debt. That puts it on par with issuers such as the Republic of Venezuela and US retailer Toys "R" Us Inc, which rating firms have indicated are likely to miss debt payments in the short term.

Wow, does that mean buying their bonds is safer than buying the mother shares? On a side note, I didnt know Toys R Us not doing well.

Bond holders stand in front of equity holders in the creditor's queue, right?

Depends if there bonds are secured type or not. If unsecured then bondholder can say byebye to money. Are noble bonds secured type??

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(08-01-2016, 09:36 PM)BlueKelah Wrote: Depends if there bonds are secured type or not. If unsecured then bondholder can say byebye to money. Are noble bonds secured type??

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debt still holds priority over equity.

Mr. Richard Elman, has shown his confidence on the company...

(not vested)

Noble Group Chairman Elman increases holding as shares retreat
11 Jan 2016 08:48
[SINGAPORE] Noble Group's Chairman Richard Elman boosted his stake in the company that he founded as its shares sank to the lowest level since 2008.

Mr Elman bought 10 million shares on Friday for S$3.19 million, raising his holding to 22.13 per cent, according to a statement to the Singapore exchange on Monday.
...
BLOOMBERG

Source: Business Times Breaking News

Not vested


Noble Group's long-awaited Enron moment is finally here, says report
http://sbr.com.sg/agribusiness/news/nobl...ays-report

http://www.zerohedge.com/news/2016-01-10...ron-moment