Glencore PLC Glencores extension of revolving credit facilities (1694U)
March 31 2021 - 10:00AM
UK Regulatory
TIDMGLEN
RNS Number : 1694U
Glencore PLC
31 March 2021
Baar, Switzerland
31 March 2021
Glencore announces extension of its revolving credit
facilities
Glencore is pleased to announce the extension of its revolving
credit facilities (the "Facilities").
The shorter-term facilities were extended to May 2022 and the
longer-term facility was extended to May 2026. 44 banks agreed to
the extension across the Facilities.
In line with Glencore's stated target of managing Net debt
towards the lower end of its USD 10-16 billion target range, and
then sustainably maintaining this lower level, the aggregate
Facilities have been reduced to USD 12.7 billion by way of a
voluntary cancellation.
The extended Facilities are for general corporate purposes,
comprising:
-- USD 8.07 billion 12-month revolving credit facilities, with a
12-month term-out option at the borrowers discretion
-- USD 4.65 billion revolving credit facility with final maturity in May 2026
The margins on the Facilities remain the same as 2020.
As in previous years, these committed unsecured Facilities
contain no financial covenants, no rating triggers and no material
adverse change clauses.
For further information please contact:
Investors
Martin Fewings
t: +41 41 709 2880
m: +41 79 737 5642
martin.fewings@glencore.com
Media
Charles Watenphul
t: +41 41 709 24 62
m: +41 79 904 33 20
charles.watenphul@glencore.com
www.glencore.com
Glencore LEI : 2138002658CPO9NBH955
Notes for Editors
Glencore is one of the world's largest global diversified
natural resource companies and a major producer and marketer of
more than 60 responsibly-sourced commodities that advance everyday
life. The Group's operations comprise around 150 mining and
metallurgical sites and oil production assets.
With a strong footprint in over 35 countries in both established
and emerging regions for natural resources, Glencore's industrial
activities are supported by a global network of more than 30
marketing offices. Glencore's customers are industrial consumers,
such as those in the automotive, steel, power generation, battery
manufacturing and oil sectors. We also provide financing, logistics
and other services to producers and consumers of commodities.
Glencore's companies employ around 135,000 people, including
contractors.
Glencore is proud to be a member of the Voluntary Principles on
Security and Human Rights and the International Council on Mining
and Metals. We are an active participant in the Extractive
Industries Transparency Initiative. Our ambition is to be a net
zero total emissions company by 2050.
Disclaimer
The companies in which Glencore plc directly and indirectly has
an interest are separate and distinct legal entities. In this
document, "Glencore", "Glencore group" and "Group" are used for
convenience only where references are made to Glencore plc and its
subsidiaries in general. These collective expressions are used for
ease of reference only and do not imply any other relationship
between the companies. Likewise, the words "we", "us" and "our" are
also used to refer collectively to members of the Group or to those
who work for them. These expressions are also used where no useful
purpose is served by identifying the particular company or
companies.
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END
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