August 21, 2017

Overburdened Glencore raises capital on bond market

Glencore, mirrors the returning of confidence in the metals and mining sector, at least judging from the sale of its first bonds.

Bloomberg reports that the company has sold $275m, which are due in May 2021.

Glencore has been embarking on cost cutting measures – selling non-core and nonperforming assets worldwide – in order to remain afloat.

The overwhelming response demonstrates that the company still has access to long-term funding in spite of its mammoth debt burden.

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