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

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.