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For the first time, Crédit Agricole CIB alongside Glencore on the bond market
Crédit Agricole CIB acted as bookrunner for Glencore’s latest bond issue.
On March 11, 2010, Glencore decided to launch a EUR 750 million issue by taking advantage of attractive market conditions and a strongly improved CDS evolution. Following the market’s very good response, the company decided to print EUR 1.25 billion with a 7-year maturity and a 5.25% coupon.
This transaction, representing Glencore's single largest funding exercise in the public bond markets, was very successful. It was allocated to institutional investors mostly based in the United Kingdom and in Continental Europe.
This bond issue bookrunning experience will contribute to broadening the scope of the relationship with Glencore. The company is one of the world's largest suppliers of commodities and raw materials to industrial consumers.