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Noble receives extension on revolving credit facility till May 2018

Noble Group Ltd. said Dec. 21 that it received an extension on the repayment waiver for its committed unsecured revolving credit facility to May 18, 2018.

The company previously said it was facing a potential default if it failed to reach a debt restructuring agreement or an extension for its US$1.1 billion facility by Dec. 20.

Noble noted that the ongoing discussions with its creditors are "open and constructive," however, there is no surety about the outcome.