Glencore sells $2.2 billion in bonds
Dec 23, 2009 | 10:50 AM
| Clementine Wallop
Glencore International AG has sold convertible bonds worth up to $2.2 billion to institutional investors in the strongest indication yet that it might be preparing to launch an initial public offering (IPO).
The bonds, due in December 2014, "are convertible at the option of investors into Glencore shares upon a qualifying IPO or upon other pre-determined qualifying events," the Zug, Switzerland-based trader said Wednesday.
Investors include U.S. private equity company First Reserve Corp., the Government of Singapore Investment Corp. (GIC), BlackRock Inc. and Chinese copper and gold producer Zijin Mining Group Co. Ltd., the Glencore said, adding that it had increased the deal size from the initial $1.5 billion to $2 billion amid strong investor appetite.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here