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Glencore Renews Deal Hunt Untroubled by Memories of Debt Panic
JOHANNESBURG (Capital Markets in Africa) – Commodities tycoon Ivan Glasenberg is chasing multibillion-dollar deals once again, and that’s fine with debt investors who were fleeing Glencore Plc less than 18 months ago. Glencore notes sank as low as 56 cents on the euro early last year after a commodity slump stoked concerns about the $30 billion of debt that Chief Executive Officer Glasenberg had amassed building one of the world’s largest raw-materials trader. Now, the bonds are back at around face…
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