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. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here
If you are subscribed and having an account error please clear cache and then cookies if that does not work email firstname.lastname@example.org and we will get back to you as quick as humanly possible