Glencore plc secured a $2.55 billion securitization for its oil and gas trade receivables. FIS provided the platform to generate immediate cash from outstanding customer payments. This move increases working-capital firepower to manage volatile energy prices and logistical disruptions.
The financing arrives as commodity traders face financial pressure from record copper prices. Ongoing supply chain strains in the Middle East further necessitate increased liquidity for the firm.
Separately, Glencore began offering deep-sea ferrous scrap cargo from the European Union to Turkey. Market participants view this as a structural shift in the global steel and metallics market.
Glencore shares slipped in early trading on May 14. This decline partially reversed gains from a previous rally driven by record-high copper prices.