Clifford Chance

Clifford Chance advises a consortium of lenders in relation to Glencore's USD15.25 billion Revolving Credit Facilities

International law firm Clifford Chance has advised a consortium of 60 lenders in relation to Glencore's USD15.25 bn revolving credit facilities, with HSBC acting as sole coordinators.

The deal involved the refinancing of Glencore's existing revolving credit facilities signed in June 2014, comprising of a new USD8,450,000,000 revolving credit facilities agreement and an amendment to an existing facility, expanding it to USD6,800,000,000. The new facilities will be used for general corporate purposes.

Clifford Chance has previously advised on the USD17.34 bn refinancing of Glencore Xstrata in 2013 and over 90 banks in connection with the revolving credit facilities totalling USD12.67 bn in 2012.

The Clifford Chance team was led by Head of the Energy & Natural Resources Sector Group, partner Russell Wells, and included fellow London partner Richard Tomlinson; New York finance partner Jay Gavigan; and Perth finance partner Philip Sealey.