Glencore expands bond buyback as manages debt

Glencore expands bond buyback as manages debt
 

Miner Glencore (GLEN.L) has increased the size of a bond buyback tender to $1.49 billion from $1.25 billion, it said on Tuesday, seeking to seize on favourable conditions to reduce its debt burden.
Miners, which racked up high levels of debt last year after commodity prices crashed, are in a much stronger position, helped by a commodity rally and some asset sales.
Investors are also more willing to take out exposure to the sector, which has rallied strongly as its dollar-denominated earnings offer shelter from a weak pound and the chance of positive returns in an environment of ultra-low... read more

 
18 October 2016 in Business, Views: 52
Source: Reuters
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