Date: Mar 30, 2018

Global diversified natural resource company Glencore has signed $9.09-billion of loans to refinance its existing short-term revolving credit facilities, the company said on Thursday.

The facilities replace Glencore’s existing $7.34-billion one-year revolving credit facility agreed in May 2017.

The financing launched at $6bn and closed oversubscribed, raising $9.7-billion from the market after receiving strong support from the company’s broad group of existing banks.

Due to a stronger commodity price environment, Glencore decided to increase the size of the facilities.

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