By Rebecca Melvin
New York, April 30 - Government of Singapore Investment Corp. Pte Ltd. sold $250 million of Glencore Finance (Europe) SA's 5% convertible bonds due 2014 in a secondary offering at a price of $116,194.44 per bond, compared to their $100,000 par, according to a news release.
The Glencore-issued convertibles are guaranteed by Glencore International AG and Glencore AG.
Glencore International intended to use proceeds from the convertibles to acquire ordinary shares of Glencore International.
Morgan Stanley & Co. International plc acted as the bookrunner of the offering.
The bonds were priced against a $5.00 per share reference price.
Settlement is expected May 2.
Based in Baar, Switzerland, Glencore is a supplier of commodities and raw materials to industrial consumers.
Government of Singapore Investment is a sovereign wealth fund established by the Government of Singapore.
| Issuer: | Glencore Finance (Europe) SA
|
| Guarantors: | Glencore International AG and Glencore AG
|
| Issue: | Secondary offering of convertible bonds
|
| Amount: | $250 million
|
| Maturity: | 2014
|
| Bookrunner: | Morgan Stanley & Co. International plc
|
| Coupon: | 5%
|
| Par value: | $100,000
|
| Price: | $116,194.44
|
| Settlement date: | May 2
|
| Stock reference price: | $5.00
|
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