Glencore Plchas priced a CHF250 million bond, maturing May 2021, at a yield of 2.25%, Reutersreported April 26.

This was the first bond offering since the company was effectivelylocked out of the debt markets in September 2015 when concerns over its abilityto manage borrowings sent its equities and bonds into a downward spiral.

The mining major opened its books the same day, looking to raisea minimum of CHF150 million, with an indicative yield of 2.25%.

Lead managers Credit Suisse and UBS upsized the deal three timesdue to strong demand.

The new issue will help to refinance an CHF825 million maturitythat was paid earlier this month and an upcoming US$1.33 billion fixed and floatdeal due in May.