Glencore adjusts conversion price, ratio on convertible bonds

Chicago, Sept. 2 – Glencore Funding LLC gave notice to its convertible bondholders that as a result of a cash dividend paid on its ordinary shares it has adjusted the conversion price and the conversion ratio on its $625 million non-dilutive cash-settled guaranteed convertible bonds due 2025, according to a notice on Thursday.

The conversion price is being adjusted to £4.8477 from its previous price of £4.8396.

And, the conversion ratio is similarly being adjusted to 29,262.94944 from 29,311.92661.

The convertibles are guaranteed by Glencore plc.

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

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