Bond issue launched by Glencore

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The Independent Online

Glencore Xstrata, the newly forged wheat trading to coal mining empire, has launched its first bond issue since becoming a single entity earlier this month.

The group is seeking $5bn (£3bn) from the markets to repay debt and for what it described as "general corporate purposes". The move comes a week after Tony Hayward, the former BP boss criticised for his handling of the Deepwater Horizon disaster, became interim chairman.