Ogier advises a consortium of lenders in relation to Glencores USD15.25 billion Revolving…

Law firm Ogier has acted as Jersey counsel to a consortium of 60 lenders in relation to Glencore's USD15.25 billion revolving credit facilities.

The deal involved the refinancing of Glencore's existing revolving credit facilities entered into in June 2014, comprising of a new USD8,450,000,000 revolving credit facilities agreement and an amendment to an existing facility, expanding it to USD6,800,000,000. The new facilities will be used for general corporate purposes and included a guarantee from Jersey incorporated parent company Glencore plc. The international law firm Clifford Chance (Russell Wells, Richard Tomlinson, Jay Gavigan and Philip Sealey) acted for the lenders as lead counsel and advised on English law issues.

Ogier previously advised the lenders on Jersey law issues in connection with Glencore’s USD17.34 billion revolving credit facilities entered into in June 2013.

The Ogier team was led by partner Bruce MacNeil with assistance from associates Tara O’Driscoll and Philip Keun.