After posting weak H1 15 results, it had become clear that a material deleveraging was the need of the hour. Consequently, Glencore today announced a $2.5bn equity issuance plan (o/w 22% would be subscribed by senior management). Although the detailed terms of the issuance are still awaited. Additionally, the following measures would be implemented through 2016 – 1/ suspension of dividend until further notice; 2015 final dividend and 2016 interim dividend estimated to result in total sa

07 Sep 2015
Massive deleveraging underway

Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Massive deleveraging underway
Glencore plc (GLEN:LON) | 296 19.3 2.2% | Mkt Cap: 35,204m
- Published:
07 Sep 2015 -
Author:
Varun Sikka -
Pages:
3 -
After posting weak H1 15 results, it had become clear that a material deleveraging was the need of the hour. Consequently, Glencore today announced a $2.5bn equity issuance plan (o/w 22% would be subscribed by senior management). Although the detailed terms of the issuance are still awaited. Additionally, the following measures would be implemented through 2016 – 1/ suspension of dividend until further notice; 2015 final dividend and 2016 interim dividend estimated to result in total sa