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GLN - Convertible Bond Repurchase - Results
Glencore Xstrata plc
(Incorporated in Jersey under the Companies (Jersey) Law 1991)
(Registration number 107710)
JSE Share Code: GLN
LSE Share Code: GLEN
HKSE Share Code: 805HK
ISIN: JE00B4T3BW64
(“Glencore” or the “Company”)
Baar, Switzerland
17 June, 2014
Not for distribution in or into or to any person located or resident in the United States, Australia, Canada, Japan,
South Africa or any other jurisdiction where the distribution of this information is restricted by law
Results of invitation by Glencore Finance (Europe) S.A. to holders of its outstanding
USD2,300,000,000 5.00 per cent. Convertible Bonds due 2014 (ISIN XS0475310396) (the
“Bonds”) convertible into shares of Glencore plc to tender their Bonds for repurchase via
a reverse bookbuilding process
Yesterday Glencore Finance (Europe) S.A. (“Glencore”) invited holders of the Bonds to tender
their Bonds for repurchase by Glencore for cash (the "Repurchase"). Following the reverse
bookbuilding conducted by Citigroup Global Markets Limited and Société Générale Corporate &
Investment Banking as Joint Dealer Managers in connection with the Repurchase, the final
repurchase price per Bond has been set at 110.75% of the principal amount of such Bond
(excluding accrued interest per Bond of USD 2,361.11). The principal amount of Bonds
accepted for repurchase is approx. USD 521.7 million.
It is expected that the settlement date in relation to the Bonds to be repurchased will be on 20
June 2014. Accrued interest will be paid on Bonds tendered and accepted for repurchase up to
(but excluding) the Settlement Date.
The Bonds repurchased pursuant to the Repurchase will be cancelled in accordance with their
terms and conditions. The Bonds that are not successfully tendered and repurchased will remain
outstanding and subject to their terms and conditions. The Company reserves the right to
repurchase Bonds on or off market at any time.
Contact details of the Joint Dealer Managers are as follows:
Citigroup Global Markets Limited Société Générale Corporate & Investment Banking
Citigroup Centre CORI/COR/SYN, Tours Société Générale
33 Canada Square 17 Cours Valmy
London E14 5LB 92987 Paris La Defense, 7 Cedex
United Kingdom France
Attn: Equity Syndicate Desk Attn: Equity Syndicate Desk
Tel: + 44 20 7986 0015 Tel: +33 1 42 13 54 26
Fax: + 44 20 7986 1103 Fax: + 33 1 42 13 75 51
E-mail: ronan.veale@citi.com E-mail: sgcib.equitysyndicate@sgcib.com
About Glencore
Glencore plc is one of the world's largest global diversified natural resource companies. As a leading
integrated producer and marketer of commodities with a well-balanced portfolio of diverse industrial
assets, we are strongly positioned to capture value at every stage of the supply chain, from sourcing
materials deep underground to delivering products to an international customer base.
The Group's industrial and marketing activities are supported by a global network of more than 90 offices
located in over 50 countries. Our diversified operations comprise over 150 mining and metallurgical sites,
offshore oil production assets, farms and agricultural facilities. We employ approximately 200,000 people,
including contractors.
Disclaimer
THE JOINT DEALER MANAGERS ARE ACTING ON BEHALF OF GLENCORE AND NO ONE ELSE IN
CONNECTION WITH THE REPURCHASE AND WILL NOT BE RESPONSIBLE TO ANY OTHER
PERSON FOR PROVIDING THE PROTECTIONS AFFORDED TO CLIENTS OF THE JOINT DEALER
MANAGERS, OR FOR PROVIDING ADVICE IN RELATION TO THE REPURCHASE.
The Joint Dealer Managers are entitled to hold positions in the Bonds either for their own account or for
the account, directly or indirectly, of third parties. The Joint Dealer Managers are entitled to continue to
hold or dispose of, in any manner they may elect, any Bonds they may hold as at the date of this
announcement or, from such date, to acquire further Bonds, subject to applicable law and may or may not
participate in the Repurchase in respect of such Bonds. No such submission or non-submission by any
Joint Dealer Manager should be taken by any holder of Bonds or any other person as any
recommendation or otherwise by, as to the merits of participating in the Repurchase.
Sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking Division)
Date: 17/06/2014 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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