Glencore Said to Complete $7.7 Billion Loan Amid Turnaround
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Glencore Plc finalized a $7.7 billion loan from almost 60 banks as the commodity trader shores up its balance sheet following a raw-materials downturn.
Lenders offered more than $10 billion, according to a person familiar with the matter who asked not to be identified because they’re not authorized to speak publicly. The loan has an all-in cost of 95 basis points above the three-month London interbank offered rate, they said.