Noble Group options narrow as saga heads for Mar 20 crunch

(Mar 13): The moment of truth is approaching for Noble Group.

Nearly a year after a shock trading loss sent it spiraling toward collapse, the commodity trader is racing to reach a deal with a group of senior creditors before a US$379 million ($498 million) bond maturity on March 20, according to people familiar with the matter.

"The clock is really ticking," said Jean-Francois Lambert, a consultant and former head of commodity trade finance at HSBC Holdings Plc. "The domino effect of default would be like a tsunami."

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