Early refinancing of Revolving Credit Facility

RNS Number : 2511P

Glencore PLC

17 February 2016

 

Glencore plc

Baar, Switzerland

17 February, 2016

Glencore announces early refinancing of its Revolving Credit Facility

Glencore announces that it has signed a new Revolving Credit Facility ("RCF"), which will ultimately refinance and replace the existing $8.45 billion facility. In this initial pre-syndication phase, Glencore received commitments from its senior banks for $8.4 billion, representing an increase from 37 banks of close to $3 billion above existing commitment levels. Reflecting the high oversubscription level, Glencore has currently scaled back and signed in $7.7 billion of such commitments and will now broaden the refinancing via launch of general syndication to some 30 additional banks in Q2 2016.

Similar to the current facility being replaced in May, this new facility remains unsecured, containing a 12-month extension option and 12-month borrower's term-out option, thereby extending the final maturity to May 2018. There are no financial covenants in the RCF documentation.

Active bookrunners on the deal were ABN AMRO, Bank of Tokyo Mitsubishi, HSBC, ING and Santander.

For further information please contact:

Investors
Martin Fewings		t: [phone]		m: [phone]		[e-mail]
Elisa Morniroli		t: [phone]		m: [phone]		[e-mail]
Media
Charles Watenphul		t: [phone]		m: [phone]		[e-mail]
Pam Bell		t: [phone]		m: [phone]		[e-mail]

www.glencore.com

www.youtube.com/glencorevideos 

Glencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 90 commodities. The Group's operations comprise of over 150 mining and metallurgical sites, oil production assets and agricultural facilities.

With a strong footprint in both established and emerging regions for natural resources, Glencore's industrial and marketing activities are supported by a global network of more than 90 offices located in over 50 countries.

Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, oil and food processing. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 160,000 people, including contractors.

Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative.

 

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