Glencore Plc's Giant Cash Call Piles The Pressure On PeersRupert Hargreaves
In what could be viewed as a victory for shareholders, Glencore has announced today that it is beginning a $10.2 billion debt reduction program, after shareholders expressed concern about the company's rising, and seemingly unsustainable debt level.
As part of the $10.2 billion debt reduction plan, Glencore is conducting a $2.5 billion equity raising, cutting its dividend, which will save $2.4 billion by the end of 2016, reducing inventory levels by $1.5 billion and selling off a . . .
This content is exclusively for paying members.
If you are subscribed and having an account error please clear cache and cookies if that does not work email firstname.lastname@example.org or click Chat.