08.11.2013 - Singapore fund to sell US$350mln of Glencore convertible bonds
Singaporean sovereign wealth fund GIC is selling US$350 million of bonds convertible into shares in Glencore Xstrata, bookrunner Bank of America Merrill Lynch said on Wednesday. The bonds, which pay an annual interest rate of 5 per cent and due to mature Dec 31, 2014, are being sold via an accelerated offering expected to be completed on Nov 7. The bonds are being offered at between 117 per cent and 118.124 per cent of their par value, according to a person familiar with the matter, meaning GIC could raise between US$409.5 million and US$413.4 million from the sale...............................................Full Article: Source
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