Glencore proves arb is not dead with $125m equity-neutral tap

Glencore, the Swiss mining and commodities company, has returned to the equity-linked market with a $125m tap of its non-dilutive convertible bonds due in March 2025, placed overnight on Wednesday evening.

  • By Aidan Gregory
  • 20 Sep 2018

Bookrunners BNP Paribas and Citigroup ran the deal as an accelerated sale overnight. They won the trade following an auction run by Glencore earlier on Wednesday for the convertible bond and call hedge.

“It started by an auction that they ran throughout the course of ...

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All International Bonds

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5 SG Corporate & Investment Banking 1,165.08 6 3.58%

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