Glencore, one of the world's largest suppliers of a wide range of commodities and raw materials to industrial consumers, has signed revolving credit facilities with a total value of US$9.135bn via bookrunners Calyon, JPMorgan, Lloyds TSB and RBS.
The facility is for general corporate purposes and broken down into two tranches: the extension of an existing three-year US$8.221bn medium-term tranche for a further year, paying Libor +47.5 basis points and a new short-term facility of approximately US$900mn with a tenor of one year, which is believed to be priced at Libor +40bp.
Glencore International, based in Baar, Switzerland, is a leading privately-held, diversified natural resources company with worldwide activity in the smelting, refining, mining, processing, purchasing, selling and marketing of metals and minerals, energy products and agricultural products.
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