GLENCORE Xstrata today announced that it has secured revolving credit facilities totalling $17.3bn (£11bn).
The newly merged miner trader said that the facilities were initially launched at $12bn but closed substantially oversubscribed, raising over $19bn.
The facilities are for general corporate purposes and replace the previous revolving credit facilities of both Glencore and Xstrata.
The offerings comprise a $5.9bn 12-month facility with two tranches of $3.5bn and $2.4bn, a $7bn three-year facility and a $4.35bn five-year facility.
Steven Kalmin, CFO, commented: “The strong result of syndication and the competitive terms achieved under this transaction demonstrate the widespread support across the banking sector for the newly merged company.”