Content area
Full Text
Guarantor: Glencore AG, Glencore International AG
Rating: Baa3/BBB
Amount: $700m
Maturity: perpetual
Issue price: 100.00
Coupon: 8%
Call option: at par from 6 February 2011
Launch date: Friday 20 January
Payment date: 6 February
Joint books: Citigroup, HSBC
Bookrunners' comment:
Glencore is one of the largest diversified natural resources groups involved in the physical marketing and production of commodities. Glencore is a privately held company owned by management and employees.
The credit was well received by investors who particularly like their geographical and commodity diversity along with their historically prudent management of business and financial risks.
The company was keen to explain their credit to investors, and to that end the CEO, CFO and chairman all participated in the investor roadshows,...