Lenders to Hong Kong-based noble croup are preparing to sign up to a US$2.5bn debt refinancing even as the commodities trader remains embroiled in a war of words over its accounting practices. Bankers who received a term sheet, sent to around 15-20 key relationship banks last week, said critical reports from previously unknown Iceberg Research would have little impact on the deal. Proceeds of the new loan, which is split into a US$1bn one-year tranche and a US$1.5bn three-year portion, refinance debt coming due in May.
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