• Market Update (June 2017)

  • The Board of Directors ("the Board") of Noble Group Limited ("the Group") wishes to announce that the Noble Americas Corp's Senior Secured Borrowing Base Revolving Credit Facility will be extended by 120 days from 20 June, 2017.

    The Group continues to be in talks with potential investors concerning the sale of an interest in the Group or its subsidiaries or parts of its business. Whilst no assurance can be given that these discussions will result in a transaction, they are ongoing and constructive.

    The Group's discussions with its bankers are continuing in relation to its revolving credit facility due May 2018. The Group’s major bankers, based in Europe, the United States and Asia, have hired legal and financial advisers to enhance these discussions. Whilst no assurance can be given as to the outcome of these discussions, the Group believes that these are constructive and are being conducted in good faith by all parties.

    The Group expects to complete its previously announced strategic review once the discussions with the banks and with potential investors become clearer. The results of this review are likely to include an asset realization programme to maintain liquidity and a further reduction in overhead expenses.

    As the Group continues to focus on liquidity, it has informed holders of the USD400 million Perpetual Capital Securities ("the Securities") that it has deferred payment, in accordance with the terms of the Securities, of the coupon otherwise due on 26 June, 2017.

    The Group also wishes to announce that, effective immediately, Mr. Peter James O’Donnell will take on an executive role as Special Advisor to the Chairman on Corporate Strategy. To facilitate this, he will step down as an independent non-executive director.

    20 June, 2017

    About Noble Group

    Noble Group (SGX: CGP) manages a portfolio of global supply chains covering a range of industrial and energy products. Noble facilitates the marketing, processing, financing and transportation of essential raw materials. Sourcing bulk commodities from low cost regions such as South America, South Africa, Australia and Indonesia, the Group supplies high growth demand markets, particularly in Asia and the Middle East. For more information please visit www.thisisnoble.com.

    For further details please contact:

    Ms. Chelsea Phua
    Bell Pottinger
    Tel: +65 6333 3449
    Email: CPhua@bellpottinger.com

    Ms. Candice Adam
    Argentus PR
    Tel: +44 20 7397 2915
    Email: candice.adam@argentuspr.com

    Mr. Martin Debelle
    Tel: +61 2 8234 0100
    Email: mdebelle@citadelmagnus.com