“Noble should be able to refinance its credit facilities, albeit smaller in size and with higher borrowing costs,” says Song in an unrated report on Wednesday.
SINGAPORE (May 31): DBS believes Noble Group will be able to refinance its upcoming borrowing base facility in June, contrary to the view of some market participants.
As long as China Investment Corp (CIC) remains a shareholder, analyst Mervin Song says there is hope for Noble's bankers that a key backer will provide support in the worst-case scenario.
