GLENCORE BOND PROSPECTUS PDF

Other top shareholders include Daniel Mate, 47, and Telis Mistakidis, 49, the co-directors responsible for zinc, copper and lead. They each own 6. Glencore set a to pence per share price range for the London initial public offering IPO. That values it at But institutional investors may take some convincing.

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Other top shareholders include Daniel Mate, 47, and Telis Mistakidis, 49, the co-directors responsible for zinc, copper and lead. They each own 6. Glencore set a to pence per share price range for the London initial public offering IPO.

That values it at But institutional investors may take some convincing. Nobody knows. Glencore, which has pursued an opportunistic but lucrative acquisition strategy, said in the prospectus it would continue to seek deals to strengthen its core physical marketing activities and also detailed talks to buy a stake in an alumina refinery and manganese mining operations. But it made no mention in the document of plans for Swiss miner Xstrata in which it has a 34 percent stake and with which it is widely expected to merge.

That would put a deal at least months away. Glencore said it had struck agreements with cornerstone investors, who will take up around 31 percent of the total offer, one of the largest cornerstone books to date. The source close to the deal said the cornerstones were oversubscribed, with not every early investor getting the full allocation they had requested.

That would value Glencore at about 8 to 10 times estimated earnings, based on the average forecast of the three banks underwriting the IPO. Founded in by trading sensation Marc Rich, Glencore has until now held on to a fiercely prized tradition of discretion. As a result, investors will scour the prospectus for details ranging from its existing investors to risks and trading. Remuneration has also been a closely guarded secret. Simon Murray will be one of the best-paid FTSE non-executive chairmen with annual fees of , pounds.

Citigroup, Credit Suisse and Morgan Stanley are the joint global coordinators for the offer. Related Coverage Glencore lists fraud, criminal case among IPO risks See more stories In its release on Wednesday, Glencore said it had appointed an extra 14 banks to lower ranking roles, boosting the syndicate disclosed last month and taking the total to 23 institutions. Conditional trading is set to begin on May

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GLENCORE BOND PROSPECTUS PDF

Grojora In addition, each of the Managers and any of their respective affiliates may enter into financing arrangements including swaps or contracts for differences with investors in connection with which they may from time to time acquire, hold or dispose of any such securities or other investments. For the avoidance of doubt, the target market assessment does not constitute: Persons into whose possession this announcement comes are required by the Issuer, the Guarantors, and the Managers to inform themselves about, and to observe, any such restrictions. Outstanding bonds They do not intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligation to do so. Forward-looking statements may and often do differ materially from actual results. None of the Managers nor any of their respective affiliates or any of its and their directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this announcement or whether any information has been omitted from the announcement or any other information relating to the Issuer or any of its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith. The information contained in this announcement is subject to change in its entirety without notice up to the closing date.

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Outstanding bonds

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