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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Financials

Singapore bets on Glencore shares with $250 mln swap

Posted on 30 April 2013

Singaporean sovereign wealth fund GIC is seeking to swap a $250 million portion of its holding in Glencore International Plc convertible bonds into shares in the company, in a vote of confidence as the commodities trader wraps up its takeover of miner Xstrata Plc .
Just days ahead of a May 2 completion date for Glencore’s tie-up with Xstrata, GIC, a shareholder in both, said it wanted to sell part of its investment in Glencore’s 2014 bond via an accelerated bookbuild………………………………………..Full Article: Source


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