Glencore: Glencore announces US$1bn high grade deal - The Times of India on Mobile

Glencore, rated Baa2/BBB, last came to market in March, when the company brought a US$1bn 10-year trade that priced at T+170bp. The company is approaching investors with a US$1bn deal split equally between five and 10-year tenors. But the market looks a little different this time around: low supply in the US high grade corporate market in recent weeks has made investors grab for each and every bond that comes to market. But capital allocation risk might now be on the rise - Glencore has signaled the possibilty of special dividends and is looking to expand its agricultural business through M&A, CreditSights analysts wrote in the report.

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