Trading company Glencore is simultaneously tapping the European and Asian syndication market for US$9bn to extend the maturity of two revolving credit lines drawn in 2010.

A source close to the transaction tells GTR that BNP Paribas is heading up the deal, though did not reveal whether it was the Asian or European tranche.

The news comes as Glencore prepares to float on both the London and Hong Kong stock exchanges for up to US$11mn.