Refinancing+extension Revolving Credit Facilities

RNS Number : 4568U

Glencore PLC

29 March 2019

 

Glencore plc

Baar, Switzerland

29 March 2019

Glencore announces refinancing and extension of its Revolving Credit Facilities

Glencore plc ("Glencore") is pleased to announce the refinancing and extension of its revolving credit facilities (the "Facilities") effective 24^th May 2019.

The short-term Facilities were initially launched at USD 8 billion and closed substantially oversubscribed, raising USD 10.55 billion, reflecting strong support from Glencore's broad group of relationship banks.

·      Glencore scaled back subscription levels and ultimately increased the size of the Facilities to USD 9.775 billion, up from the USD 9.085 billion signed in 2018.

·      A total of 53 banks committed to the Facilities, including 31 Mandated Lead Arrangers and Bookrunners.

The longer-term USD 4.65 billion revolving credit facility (voluntarily reduced from USD $5.115 billion) was amended and extended to 2024 (5 years), including reinstating the two one-year extension options.

The new and extended facilities are for general corporate purposes, comprising:

·      a USD 9.775 billion 12-month revolving credit facility with a 12-month term-out option at the borrowers discretion, and a 12-month extension option

·      a USD 4.65 billion 5-year revolving credit facility with two 12-month extension options

For further information please contact:

Investors
Martin Fewings	t: [phone]	m: [phone]	[e-mail]
Ash Lazenby	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 90 commodities. The Group's operations comprise around 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 sectors. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 158,000 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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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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