Noble seeks $1.5bn unsecured loan

The underperforming commodity trader Noble swung to a net loss of $1.67bn in 2015 which was its first annual loss in nearly 20 years, battered by a $1.2bn write-down on weak coal prices, Reuters reported.  

Noble Group is in advanced talks to raise a $1.5 billion (€1.3 billion) unsecured loan from banks that will help to repay its debt, the underperforming commodity trader's head of treasury said, a move that could help it win back investor confidence, according to Reuters.

Noble declined to comment on the report.

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