*WCGD? What could Glencore do (with $10.2bn)?

Glencore International, the world’s largest commodities trader, has signed credit facilities worth $10.2 billion, after lenders oversubscribed when it looked to borrow $7 billion

Glencore International, the world’s largest commodities trader, has signed credit facilities worth $10.2 billion, after lenders oversubscribed when it looked to borrow $7 billion.

The fresh injection into the Swiss trading house got MB’s resident number-crunchers thinking what Glencore could do with the funds and what $10.2 billion represents in today’s markets.

That sum would...

• buy Anglo American’s zinc assets, sold to Vedanta on Monday for $1.34 billion, 7.6 times over

• buy a 19.62% stake in Anglo to complement its stake in Xstrata

• buy every tonne of aluminium in London Metal Exchange-bonded warehouses (if it wasn’t all tied up in those pesky financing deals) and every tonne of tin, still leaving chairman Willy Strothotte with the bus fare home

• buy 127.5 million barrels of oil

• make up 1.02% of the eurozone’s $1 trillion bailout package

• pay out 61% of the funds shareholders have in the company

• buy 591 million lb of low-grade cobalt at $17.25 per lb

• buy 510 million lb of low-grade cobalt at $20 per lb

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
Proceed