Singapore-listed commodities trader Noble Group has reached out to relationship banks to put together a revolving credit facility, according to sources familiar with the matter.
The Hong Kong-based company founded by British businessman Richard Elman is eyeing a facility worth up to $3 billion with tenors of one and three years and is expecting commitments by the end of March, one lender told FinanceAsia.
Among the head winds are allegations by Iceberg Research published in February that Noble Group used inappropriate accounting methods to avoid impairments and inflate profits. Noble has since rejected those allegations.
Noble Group also posted its first quarterly...