31st Mar 2022 14:53
(Alliance News) - Glencore PLC on Thursday said it has refinanced its committed short-term revolving facilities, which will go towards general corporate purposes.
The facilities were initially launched by the Baar, Switzerland-based commodity trader and miner at USD5 billion, but closed substantially oversubscribed, with commitments received in excess of USD6.8 million.
Glencore has scaled back subscription levels to USD6.54 billion, in line with the USD6.57 billion facilities being refinanced. A total of 39 banks are committed to the facilities, including 29 lead arrangers and bookkrunners.
The group's total revolving credit facilities now comprise a USD6.54 billion 12-month credit facility and maturing May 2023, while the USD4.65 billion facility has USD4.2 billion maturing in May 2026 and USD450 million in May 2025.
Shares in Glencore were down 0.1% at 500.00 pence on Thursday afternoon in London, while shares in Johannesburg were 0.8% higher at ZAR96.08.
By Dayo Laniyan; [email protected]
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