Glencore brings in 14 as books for FSF
Glencore, the Swiss commodities firm, has made a strong start to its $5bn forward start facility, with 14 lenders having already made commitments as bookrunners. The banks are thought to have lent about $325m each, or $4.55bn in total. Glencore is seeking to raise more than $5bn, according to bankers close to the facility, who added that the loan should be signed next month.
The banks that have joined the deal, launched on April 1, are Barclays Capital, BNP Paribas, Calyon, Citi, Credit Suisse, Deutsche Bank, Fortis Bank, HSBC, ING, JPMorgan, Lloyds Banking Group, Rabobank, Royal Bank of Scotland and Société Générale.
BarCap, Calyon and Lloyds are the co-ordinators.Glencore, rated Baa2/BBB-, is trying ...