Noble Group amends restructuring plan as it races to get shareholder support

SINGAPORE (Apr 19): Bowing to criticism from the Singapore Exchange (SGX) and other investors, embattled Noble Group is removing a provision in its US$3.4 billion ($4.5 billion) debt restructuring proposal that penalised shareholders voting against the plan.

See: Noble Group sweetens debt restructuring deal, gets founder's backing

The debt-for-equity swap is crucial for the survival of the Singapore-listed company, which has sold billions of dollars of assets, taken hefty writedowns and cut hundreds of jobs over the past three years to slash debt.

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