By Marisa Wong and Cristal Cody
Los Angeles, Sept. 16 – Glencore Funding LLC priced $1.25 billion of senior notes in two tranches on Wednesday, according to a market source.
The company priced $750 million of 2.625% 10-year notes with a spread of Treasuries plus 135 basis points. Price talk was in the Treasuries plus 155 bps to 160 bps area.
The company also priced $500 million of 3.375% 30-year notes with a spread of Treasuries plus 160 bps. Talk was in the Treasuries plus 180 bps area.
BofA Securities, Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., ING Financial Markets Inc. and MUFG are the lead managers.
Glencore Funding is a Stamford, Conn.-based U.S. funding arm of Glencore plc.
| Issuer: | Glencore Funding LLC
|
| Description: | Senior notes
|
| Amount: | $1.25 billion
|
| Managers: | BofA Securities, Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., ING Financial Markets Inc. and MUFG
|
| Pricing date: | Sept. 15
|
|
|
| 2031 notes
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| Amount: | $750 million
|
| Maturity: | Sept. 23, 2031
|
| Coupon: | 2.625%
|
| Spread: | Treasuries plus 135 bps
|
| Price talk: | Treasuries plus 155 bps to 160 bps area
|
|
|
| 2051 notes
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| Amount: | $500 million
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| Maturity: | Sept. 23, 2051
|
| Coupon: | 3.375%
|
| Spread: | Treasuries plus 160 bps
|
| Price talk: | Treasuries plus 180 bps area
|
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