Deals
Glencore Said to Set Terms for $13 Billion Loan Refinancing Deal
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Glencore International Plc, the world’s largest publicly-traded commodities supplier, set the terms for a refinancing of almost $13 billion of loans, according to three people with knowledge of the matter.
The proposed deal comprises one-, three- and five-year portions all paying initial interest margins of less than 100 basis points, or 1 percentage point, more than the London interbank offered rate, said the people, who asked not to be identified because the terms are private. Lenders will also receive commitment fees equivalent to 35 percent of the margins.