Glencore shelves dividend over Covid-19 concern

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Company braces itself for ‘risk of material production disruption’ due to pandemic

Glencore has increased, refinanced and extended its revolving credit facilities on the same commercial terms as 2019. Picture: REUTERS

Countries globally are implementing drastic measures to arrest the spread of the coronavirus. This includes SA, which embarked on a 21-day lockdown on Friday. “As in previous years, these committed unsecured facilities contain no financial covenants, no rating triggers, no material adverse-change clauses and no external factor clauses,” it said.

 

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