As the 10th anniversary of the Global Financial Crisis looms large, the veteran Asia banker sees opportunity for profit in the emerging markets crash and is planning to expand in 'sexy' private markets.
Over 75% of Noble's senior debt holders agree to its $3.5 billion restructuring plan, a crucial step for the turnaround of the embattled commodities trader.
A lawsuit and stock sales underline equity shareholders continuing dissatisfaction with Noble's proposed restructuring as the group defaults on its March 2018 bond issue.
Some buy-side investors want to profit from the retreat by banks from privately negotiated deals but the risks of investing in such illiquid markets can be high.
China's efforts to liberalise its bond markets along with its capital account have made funding cheaper for local companies but also raise risk and credit rating questions.