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Glencore Xstrata launches first bond issue as merged company

Glencore Xstrata has launched and priced three- five- and 10-year fixed-rate notes and three- and five-year floating-rate notes in a five billion dollar five-tranche transaction.

Glencore Xstrata has launched and priced three- five- and 10-year fixed-rate notes and three- and five-year floating-rate notes in a five billion dollar five-tranche transaction.

The transaction covers $1.0bn 1.7% guaranteed notes due May 2016, $1.5bn 2.5% guaranteed notes due January 2019, $1.5bn 4.125% guaranteed notes due May 2023, $500m guaranteed floating-rate notes due May 2016 and $500m guaranteed floating-rate notes due January 2019.

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Glencore Xstrata will use the net proceeds of the offering to repay part of the amounts outstanding under certain indebtedness and for general corporate purposes.

The share price dropped 4.03% to 336.85p by 14:12.

NR

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