Glencore Eyes Colombia Refinery Financing

Glencore Eyes Colombia Refinery Financing

Colombia

Swiss-based commodity powerhouse Glencore International is seeking to raise $2bn-$3bn financing in the coming months to invest in Colombia's Refinaria de Cartagena, says a loans market banker familiar with the matter. Part of the investment for the controlling stake in the oil refinery will include equity, and a significant portion will be raised in the loan market. A multilateral A/B loan may be one route, says a banker, though Glencore is understood to be considering various options. Glencore

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