Noble Group Flags Another Loss as Restructuring Costs Mount
- Trader sees loss of $90 million-$115 million in third quarter
- More than 88% of creditors accede to debt-restructuring plan
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Noble Group Ltd. warned of another quarterly loss, driven by restructuring and finance costs, as the embattled commodity trader moves toward completing a $3.5 billion rescue deal that’ll hand control to creditors.
The net loss for the three months to September will be $90 million to $115 million, according to a filing on Monday. It expects to incur restructuring costs of about $35 million, after spending more than $100 million in the first half.