Glencores extension of revolving credit facilities

RNS Number : 1694U

Glencore PLC

31 March 2021

 

Baar, Switzerland

31 March 2021

Glencore announces extension of its revolving credit facilities

Glencore is pleased to announce the extension of its revolving credit facilities (the "Facilities").

The shorter-term facilities were extended to May 2022 and the longer-term facility was extended to May 2026.  44 banks agreed to the extension across the Facilities.

In line with Glencore's stated target of managing Net debt towards the lower end of its USD 10-16 billion target range, and then sustainably maintaining this lower level, the aggregate Facilities have been reduced to USD 12.7 billion by way of a voluntary cancellation.

The extended Facilities are for general corporate purposes, comprising:

· USD 8.07 billion 12-month revolving credit facilities, with a 12-month term-out option at the borrowers discretion

· USD 4.65 billion revolving credit facility with final maturity in May 2026

The margins on the Facilities remain the same as 2020.

As in previous years, these committed unsecured Facilities contain no financial covenants, no rating triggers and no material adverse change clauses.

For further information please contact:

Investors

Martin Fewings

t: [phone]

m: [phone]

[e-mail]

Media

Charles Watenphul

t: [phone]

m: [phone]

[e-mail]

www.glencore.com 

Glencore LEI : 2138002658CPO9NBH955

Notes for Editors
Glencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 60 responsibly-sourced commodities that advance everyday life. The Group's operations comprise around 150 mining and metallurgical sites and oil production assets.

With a strong footprint in over 35 countries in both established and emerging regions for natural resources, Glencore's industrial activities are supported by a global network of more than 30 marketing offices. Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 135,000 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. Our ambition is to be a net zero total emissions company by 2050.

Disclaimer

The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this document, "Glencore", "Glencore group" and "Group" are used for convenience only where references are made to Glencore plc and its subsidiaries in general. These collective expressions are used for ease of reference only and do not imply any other relationship between the companies.  Likewise, the words "we", "us" and "our" are also used to refer collectively to members of the Group or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

 

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