Noble Bagholders

The author of this article is short Noble

noble default

They’re just covering all their bases here, remember, most firms have multiple issues, and a notice of default often only applies to one and Noble wants to make clear that it’s defaulting on everything, leaving current bagholders’ paper with claims on an empty shell in Bermuda.

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

Bloomberg had earlier reported that if shareholders voted against the RSA, Noble will seek to implement the restructuring as a prepackaged administration in the United Kingdom, an action that would effectively concede the company’s insolvent, according to the terms of the restructuring with 46% of its senior creditors.

The Noble Files 贵族档案

LEAVE A COMMENT


Saved Articles
X
TextTExtLInkTextTExtLInk

Are you a smart investor? Join tens of thousands of sophisticated investor reading our authoritative free newsletter

* indicates required

Opt out of occasional 3rd party offers


Congrats! Are you a smart person? We have a limited time offer for sophisticated and loyal readers like yourself.

Sign up today and get three months free

Use coupon code VIP19 or click on the button below

Limited time offer only expires 8/31/2019 or next 30 now just 2 subscribers whichever comes first – please do not share this discount with others

 

0