The commodity trader’s dollar bonds due in 2020, its most liquid, dropped 12 cents on the dollar in the last two days to 52.79 on Friday, their lowest on record, implying a yield of 26.4 percent for the company’s debt. That puts it on par with issuers such as the Republic of Venezuela and U.S. retailer Toys “R” Us Inc., which rating firms have indicated are likely to miss debt payments in the short term. Noble Group has also become the riskiest company in Asia to hedge against nonpayment of debt based on credit-default swaps contracts.
Read the full story at Bloomberg, by Christopher Langner and David Yong
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