The Singapore based firm Noble Group is on the market actively seeking money.
The activity only paints a bad picture however. Noble specializes in commodities and trade. It recently started a revolving credit offering a 364 day option. Noble Group will pay interest rates at more than double the standard margins as a result.
This is not an event to take lightly for such a large business.
It’s raising an unsecured loan of $1 billion USD, and investors don’t like what these action indicates. No comment are being released about the particulars. see best personal loan Singapore to know how to apply for loans.
The credit facility launched by Noble Group will pay margins of 225 points above Libor and compared with last year’s 85 basis points. Last year’s loan was $1 million less than what Noble Group seeks today. The group decline to comment about the increase in interest it will pay on a loan smaller than one taken in the previous year. More info about personal loans Singapore you can check.
We suspect that investors inside know what’s happening. Nothing has reached the media’s ears.
Though this new fast cash loan is not backed by any tangible, real assets, it will be used to manage debt and could give investors new hope. A very few investors though. The spike in interest rates only come with bad reports or bad financials held by the organization.
Noble Group today trades coal, iron ore and oil on the world markets. This is a lucrative industry, but Noble is obviously struggling. Since the Standard & Poor’s index lowered the company’s ratings, it has tried everything to rebound.
Nothing comes to avail the circumstances.
The organization claims to have lower costs in operation, but no one is excited by the news or the prospect. It has inquired to more than 7 banks including HSBC, Societe Generale, MUFG and DBS. Those banks have refused to comment. This adds to the negative stigma being built around this firm.
Time must now tell the story to come. We can only hope for good news.