Glencore press news...is it poss ??20 Mar 2018 18:34
Price could there be any relevance here???
I could be way off but 7 ears could see a good return for phase 1 development....your thoughts???
Glencore plc
Baar, Switzerland
20, March 2018
Glencore plc announces the intended issuance of $500 million non-dilutive cash settled guaranteed convertible bonds due 2025
Glencore plc ("Glencore"), through its subsidiary Glencore Funding LLC (the "Issuer"), announces the launch of an offering of $500 million non-dilutive cash settled guaranteed convertible bonds due 2025
The net proceeds of the offering of the Bonds will be used for general corporate purposes and for the purchase of the Call Options.
The nominal value of each Bond will be $200,000. The Bonds will not bear interest and will be issued at an issue price of 93.25% - 98.25% of their nominal value, corresponding to an annual gross yield to maturity of 0.25% to 1.00%, on 27 March 2018, the expected settlement date of the Bonds. The Bonds will be redeemed at par on 27 March 2025 unless previously redeemed or converted in accordance with their terms. The initial conversion price will be 25% above the Share Reference