Noble Group
Reuters

Embattled commodity trader Noble Group has lost support from one of its key banks as Singapore's DBS Group Holdings cut lending, Bloomberg reported on Monday.

DBS sold its $60 million stake in Noble's $1.1 billion revolving credit facility due in May next year, and also closed some other financing to the company, the report said citing a person with knowledge of the matter.

The move by DBS to cut its exposure to Noble was first reported by Debtwire.

DBS had been a key supporter of Noble through a crisis at the Hong Kong-based trader that has run for more than two years.

Shares in Noble Group fell as much as 4 percent to an over 52-week low of S$0.24 on Monday.

The Hong Kong-based firm reported a third-quarter loss of $1.17 billion last week and warned that the operating environment remains challenging.

Noble Group's results highlighted the worsening liquidity conditions for the Singapore-listed trader. Liquidity headroom gives an indication of how much spare capital it has available to fund its business. The figure slumped to $800 million at the end of September from $1.4 billion three months earlier.