Glencore Restructures $500 Million Oil Loan With Iraqi Kurdistan
- Kurdistan will reduce repayments in 2020 due to low oil prices
- Restructuring announced via a Cayman Islands regulatory filing
Photographer: Vincent Mundy/Bloomberg
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Glencore Plc has restructured a $500 million oil-for-cash loan to Kurdistan in northern Iraq, reducing payments for 2020 as the semi-autonomous region struggles due to low petroleum prices.