Thursday, October 21, 2021

GFG Alliance says Glencore to refinance aluminium unit

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imageCommodities22 minutes ago (Jul 09, 2021 11:46AM ET)

(C) Reuters. FILE PHOTO: The GFG Alliance flag flies at the completion of a 330 million pound deal to buy Britain’s last remaining Aluminium smelter in Fort William Lochaber Scotland, Britain December 19, 2016. REUTERS/Russell Cheyne

LONDON (Reuters) – The GFG Alliance owned by commodities tycoon Sanjeev Gupta said it had agreed a deal with commodities group Glencore (OTC:GLNCY) to refinance the debt on its aluminium unit.

Glencore would provide facilities acquiring most of the debt on GFG’s European aluminium smelters, which would be repackaged as a loan payable over six years, according to an internal note send to GFG staff on Friday and seen by Reuters.

GFG Alliance says Glencore to refinance aluminium unit

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