Glencore to Issue $500 Million in Convertible Bonds

March 20, 2018 / www.4-traders.com / Article Link

By Adam Clark

Glencore PLC (GLEN.LN) said on Tuesday that it intends to issue $500 million in cash-settled convertible bonds due 2025.

The mining company said the net proceeds of the offering will be used for general corporate purchases. Glencore said the bonds won't carry any interest and will be issued at between 93.25% and 98.25% of their nominal value of $200,000 each.

Glencore said the initial conversion price of the bonds will be 25% above its average share price. The bonds will be offered via an accelerated bookbuilding process.

Shares at 1330 GMT were down 0.35 pence, or 0.1%, at 368.95 pence.

Write to Adam Clark at [email protected]; @AdamDowJones

Recent News

Crypto market size continues to catch up with gold

November 18, 2024 / www.canadianminingreport.com

Crypto stealing some of gold's thunder

November 18, 2024 / www.canadianminingreport.com

Gold stocks drop on metal price decline

November 11, 2024 / www.canadianminingreport.com

US a major market for Canadian mineral exports

November 11, 2024 / www.canadianminingreport.com

Gold stocks down along with broad equities decline

November 04, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok