The Board of Directors (the 'Board') of Noble Group Holdings Limited ('Noble Holdings' and, together with its subsidiaries, the 'Group'), one of Asia's leading independent energy products and industrial raw materials supply chain manager, is pleased to announce the extension of the Group's access to committed trade finance facilities to December 2022.
The commitment has been provided by Deutsche Bank, in the amount of US$350 million. This will facilitate all of the flows in the Group business plan for 2022 and allow it to meet the needs of its customers in a stable and efficient manner.
The existing US$700 million committed trade finance facility, which matures in December 2021, will be stepped down to US$450 million initially and then to US$350 million over the remainder of the year - again, in line with the requirements of (and facilitating all flows under) the Group's business plan for 2021.
Trading conditions during 1Q2021 have broadly improved compared to 2020, with commodities prices generally trending upwards. Markets remain volatile, however, requiring a disciplined approach to market risk management. The Group is on track compared to the guidance published on 5 February 2021.
About Noble Group Holdings Limited
Noble Group Holdings Limited ('Noble Holdings') is one of Asia's leading independent energy products and industrial raw materials supply chain manager.
Noble Holdings operates in the supply chain of energy raw materials, technology metals, special ores and industrial minerals, and base metals, and is supported by its freight and logistics operations. Noble Holdings leverages its extensive regional network to facilitate the marketing, processing, financing and transportation of these raw materials, predominantly in Asia. It also provides supply chain and risk management services to clients.
Noble Holdings is the parent of the Noble group of companies which underwent a restructuring in the second-half of 2018. Noble Group Limited, the former holding company of the group (which was previously listed in Singapore) but which is now unrelated to Noble Holdings following the restructuring, is undergoing a winding up process in Bermuda.
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