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Glencore opens books on Swiss francs bond issue

By Laura Benitez

LONDON, April 26 (IFR) - Glencore (Xetra: A1JAGV - news) has started marketing a SFr150m minimum May 2021 bond issue at an indicative yield of 2.25% area, equivalent to 279.5bp area over mid-swaps according to a lead.

The deal is expected to price later today via lead managers are Credit Suisse (LSE: 0QP5.L - news) and UBS (LSE: 0QNR.L - news) .

The issuer is rated Baa3 by Moody's and BBB- by S&P. (Reporting By Laura Benitez, Editing by Helene Durand)