Glencore syndication exuberance underscores loan market malaise

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Glencore syndication exuberance underscores loan market malaise

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In this April 14, 2011 file photo, the headquarters of Glencore are seen in Baar, Switzerland. Grain-handling company Viterra Inc. (TSX:VT) has agreed to be acquired by Switzerland-based Glencore International in a deal valued at $6.1 billion. (AP Photo/Urs Flueeler, The Canadian Press) | Urs Flueeler/The Canadian Press/PA Images

Commodity trader Glencore has ramped up the size of its short term revolver by almost $4bn between syndication launch and signing, with dozens of banks piling into the refinancing exercise in the latest example of deal starved lenders scrabbling for places to put money to work.

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