Clifford Chance acts in commodities giant's hot refinance

The oversubscribed refinancing involved a total of 58 banks committing to the facilities

Clifford Chance acts in commodities giant's hot refinance

Clifford Chance fielded lawyers from Australia and the UK to aid in the refinancing of the short-term revolving credit facilities (RCF) of an Anglo-Swiss commodities giant.

The Magic Circle outfit advised HSBC, BNP Paribas, The Bank of Tokyo-Mitsubishi UFJ, and Santander UK as active bookrunners in the syndication of Glencore’s refinancing of its short-term RCFs.

The facilities were first launched at US$6bn, but they closed substantially oversubscribed and raised US$9.7bn. The refinancing boosted the company’s RCFs from US$7.34bn to US$9.09bn, with final maturity in May 2020.

Most Read

“This landmark matter involved a total of 58 banks committing to the facilities, including 31 mandated lead arrangers and bookrunners. Our ability to bring together a highly-talented team from Sydney, Perth, and London meant that HSBC, as the global coordinator for the banks, worked with lawyers familiar with their operations and experienced in similar transactions in this space,” said Richard Gordon, Australia managing partner.

Gordon led the Clifford Chance team in Australia, which also included counsel Mark Gillgren and associate Steven Meacher in Perth.

London partner Russell Wells led the firm’s UK team, with support from lawyers James Harrison, Samiha Bham, and Susan Dand.


Related stories:
Magic Circle firm continues work on India’s top banking deals
Global firm splits top Tokyo post


Recent articles & video

Ashurst, Sullivan & Cromwell guide Alcoa Corp acquisition of Alumina Limited

KWM snags Clayton Utz partner for ERS practice

Federal Court denies Medibank's request to restrain Australian Information Commissioner

Search for the best specialised law firms

Addisons corporate star commences with Keypoint Law

CIE Legal partner on lawyers needing to chill out

Most Read Articles

DLA Piper guides $9bn cross-border acquisition

Ashurst lures Corrs gender equality head

Gadens adds five partners in Melbourne, Sydney

Women’s Legal Services Australia executive officer on why gender inequality is still a challenge