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GLEN Glencore Plc

468.05
13.05 (2.87%)
Last Updated: 15:12:26
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Glencore Plc LSE:GLEN London Ordinary Share JE00B4T3BW64 ORD USD0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  13.05 2.87% 468.05 467.95 468.05 468.80 459.40 460.00 6,943,550 15:12:26
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Nonmetallic Mineral Pds, Nec 217.83B 4.28B 0.3508 13.35 57.15B

Glencore Backs Katanga's C$7.6 Billion Rights Offering to Cut DRC Unit's Debt

07/11/2019 3:17pm

Dow Jones News


Glencore (LSE:GLEN)
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From May 2019 to May 2024

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   By Max Bernhard 
 

Katanga Mining Ltd. (KAT.T) said Thursday that it plans to raise 7.6 billion Canadian dollars ($5.77 billion) in a rights offering to repay debt to Glencore PLC (GLEN.LN), its majority shareholder.

"Glencore has agreed to accept the rights offering proceeds of approximately C$7.6 billion or the equivalent in common shares issued from treasury under the rights offering to repay US$5.8 billion of debt to Glencore," Toronto, Canada-listed Katanga said.

The company operates a copper and cobalt mine complex in the Democratic Republic of Congo. British-Swiss mining giant Glencore isn't committing any new monies to Katanga as a result of the rights offering, it said.

 

Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard

 

(END) Dow Jones Newswires

November 07, 2019 10:02 ET (15:02 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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