Glencore adjusts conversion ratio of 5% convertible bonds due 2014

By Jennifer Chiou

New York, Sept. 11 – Glencore Finance (Europe) SA announced the adjustment of the conversion ratio for its $2.3 billion of 5% convertible bonds due 2014 to 19,317.1675 shares per bond from 19,119.9814 shares per bond.

The adjustment is in connection with a dividend announced in August.

The convertibles are guaranteed by Glencore International AG and Glencore AG.

Based in Baar, Switzerland, Glencore is a supplier of commodities and raw materials to industrial consumers.

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