Noble Not Paying: The ISDA must now get its act together.

ISDA refused to maintain market integrity, dragging their heels on the CDS which was absurd, funny how they didn’t on Codere.


Noble is on track to not repay its first bond payment. We know now that it doesn’t intend to repay the $375 million bond due this tuesday.
So why does Noble simply doesn’t pay ?
Noble says it would be for the benefits of all its shareholders.
What benefits ? getting 1/10 of the ‘new-noble’.

What happens next if Noble defaults ? Legal procedures will start.

Inversely the trustees need only 1/4 of the bondholders support to liquidate Noble Group.

S&P Global Ratings cut Noble’s credit score to D, a level signifying default after the Singapore trader refused to pay principal and interest payments on its U.S dollar notes.

  • Noble says it will not make payments despite being granted a 30-days grace period.

.

The ISDA must now get its act together.

the Noble Files 高贵组文件 研究

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s