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Glencore plans to sell assets, shares to trim its US$30b debt by a third

Firm also will suspend dividend payments until further notice; shares rise as much as 13%, a record intraday gain

Published Mon, Sep 7, 2015 · 09:50 PM

Melbourne

GLENCORE Plc, the commodity producer and trader, plans to sell assets and shares to cut its US$30 billion net debt by about a third following the rout in global markets.

Baar, Switzerland-based Glencore, which last week posted its biggest weekly decline in London since going public in 2011, plans to sell about US$2.5 billion in new shares and assets worth as much as US$2 billion.

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Energy & Commodities

Glencore plans to sell assets, shares to trim its US$30b debt by a third

Energy & Commodities

BHP’s biggest rivals sit on the sidelines of Anglo M&A drama

ExxonMobil to take 18 to 24 months to hit full stride with Pioneer purchase

Oil settles down on US jobs data, steepest weekly loss in three months

Glencore Group nears deal for Shell’s Singapore oil refinery

Opec+ may need to tackle oil capacity conundrum next month

Gold flat ahead of US payrolls data, set for second weekly drop

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