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posted:
07/09/2015
Update on Glencore’s plans to reduce net debt and adapt the business to the current commodity landscape
Update on Glencore’s plans to reduce net debt and adapt the business to the current commodity landscape
7 September 2015
Glencore plc (the “Company”) today announces a fully committed proposed equity capital raising of up to US$2.5 billion alongside additional capital preservation / debt reduction measures which, taken together, have an aggregate value of up to US$10.2 billion, and certain other portfolio optimisation and cost reduction actions, with the objective of reducing net debt to the low US$20s billion by the end of 2016.