29th May 2015 10:09
LONDON (Alliance News) - FTSE 100-listed Glencore PLC Friday said it has signed and secured USD15.25 billion worth of revolving credit facilities from 60 different banks.
The natural resource giant said the facilities will refinance the company's USD8.7 billion one-year revolving credit facilities signed in June 2014 and amend and extend the USD6.6 billion 5-year revolving credit facility, which was also signed in June 2014.
The new and amended facilities comprise a USD8.45 billion 12-month revolving credit facility with a 12-month term-out option and a 12-month extension option and a USD6.80 billion five-year revolving credit facility with 12-month extension options.
"The facilities were initially launched at USD14 billion and closed substantially oversubscribed, raising USD17 billion, due to strong support from Glencore's broad group of relationship banks. A total of 60 banks committed to the facilities, including 34 mandated lead arrangers and bookrunners," Glencore said.
Glencore said the active bookrunners were Banco Bilbao Vizcaya Argentaria SA, HSBC Bank PLC, Lloyds Bank PLC and Rabobank.
Glencore shares fell 0.2% to 285.15 pence per share on Friday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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