Glencore receives loans on pre-crisis terms

Glencoremining
By Mike Turner
01 Apr 2020

Glencore, the Swiss-headquartered commodity trading and mining group, has agreed $14.625bn of loans, becoming one of the last in Europe to lock in pre-crisis terms.

The Baa1/BBB+ rated company has refinanced and extended two facilities.

The larger is a $9.975bn 12 month revolving credit facility with a 12 month extension option. That is slightly larger than the $9.775bn 2019 deal it refinanced.

Glencore launched it into the market at $8bn, but lenders pledged $10.75bn, so ...

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