Noble Group financial restructuring

Overview:

• The restructuring of Noble Group involved the exchange of $3.45 billion of existing debts with $1.9 billion of new bonds and preference shares as well as equity in a special purpose vehicle.
• A pro rata allocation of the equity of New Noble.
• The provision of new trade finance and hedging support facilities to New Noble.
• The exchange of $400 million of existing perpetual capital securities with $25 million of new perpetual capital securities issued by New Noble.  
• The disposal of substantially all of the assets of NGL to New Noble.