Beware the Elephants "LONDON (Reuters) - Commodities trader Glencore (LSE:GLEN.L - News) signed a $6 billion syndicated loan backing its $90 billion merger with miner Xstrata (LSE:XTA.L - News) on Tuesday after raising nearly $11 billion in syndication, banking sources said on Wednesday.
The loan includes a one-year extension option and was underwritten by Citigroup and Morgan Stanley to show regulators that Glencore has enough working capital to fund the merger."
And you can bet Goldman Sachs is sniffing around this deal too.