(Jan 25): Noble Group has reached the outline of an agreement with its creditors to restructure about US$3.5 billion ($4.5 billion) in debt, paving the way for an investor to take a controlling stake in the company, Debtwire reported Thursday, citing sources it didn’t identify.

See: Noble Group’s loan deadline looms amid restructuring talks

The agreement with bondholders and lenders was reached after meetings in London earlier this week, according to Debtwire. If implemented, the plan would give Noble access to working capital at a cheaper cost, and allow creditors to cash-in on shares obtained from a debt-to-equity swap via a sale to the strategic investor, it said.

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