Clifford Chance

Clifford Chance advises on US$9.085 billion refinancing of Glencore's Short-term Revolving Credit Facilities

Leading international law firm Clifford Chance has fielded a cross border team to advise BNP Paribas, HSBC Bank plc, The Bank of Tokyo-Mitsubishi UFJ, Ltd., a member of the Mitsubishi UFJ Financial Group and Santander UK plc as Active Bookrunners in the syndication of Glencore's refinancing of its Short-term Revolving Credit Facilities. This refinancing has increased the size of the facilities from US$7.335 billion to US$9.085 billion, with final maturity to occur in May 2020.

Australia Managing Partner Richard Gordon offers, "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."

Richard led the team in Australia and was supported by counsel Mark Gillgren and associate Steven Meacher in Perth. London-based partner Russell Wells led the team in the UK backed by lawyers James Harrison, Samiha Bham and Suzanne Dand.