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Glencore PLC on Thursday said it has refinanced its committed short-term revolving facilities, which will go towards general corporate purposes.
The facilities were initially launched by the Baar, Switzerland-based commodity trader and miner at $5 billion, but closed substantially oversubscribed, with commitments received in excess of $6.8 million.
Glencore has scaled back subscription levels to $6.54 billion, in line with the $6.57 billion facilities being refinanced. A total of 39 banks are committed to the facilities, including 29 lead arrangers and bookkrunners.
The group's total revolving credit facilities now comprise a $6.54 billion 12-month credit facility and maturing May 2023, while the $4.65 billion facility has $4.2 billion maturing in May 2026 and $450 million in May 2025.
Shares in Glencore were down 0.1% at 500.00 pence on Thursday afternoon in London, while shares in Johannesburg were 0.8% higher at R 96.08.
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