Rumours 点火（する） over 抱擁する London 名簿（に載せる）／表（にあげる）ing of 隠しだてする Glencore

Updated: 15:05 BST, 19 June 2009

スイスの-based Glencore's bumpy ride in credit markets may 誘発する／引き起こす it to raise 公正，普通株主権, but a possible public 名簿（に載せる）／表（にあげる）ing is years away, 銀行業者s familiar with the 商品／必需品 仲買人's thinking said.

Discussions about an 初期の Public 申し込む／申し出ing (IPO) are taking place 定期的に, as Glencore is looking at all 選択s to lower its 基金ing costs, 銀行業者s said.

'I'll b e surprised if they were to sell a big chunk of their 株 now. If you are talking about the next three to five years, that's possible,' one of the 銀行業者s said.

Glencore has over the years grown from a pure 貿易（する）ing 企業 into a major 生産者 and 加工業者 of raw 構成要素s, owning about 35% of UK-名簿（に載せる）／表（にあげる）d 鉱夫 Xstrata

'Glencore is a 貿易（する）ing house, 仲買人s sell high buy low. Although 鉱夫s have 回復するd a bit, the タイミング isn't 権利.'

The 財政上の Times 報告（する）／憶測d on Friday that the group is 調査するing a 株式市場 名簿（に載せる）／表（にあげる）ing to 打ち勝つ the 強制s of its 私的な 所有権 structure, a possible 障壁 to growth. The company 拒絶する／低下するd to comment.

Based in the スイスの city of Zug, the company has over the years grown from a pure 貿易（する）ing 企業 into a major 生産者 and 加工業者 of raw 構成要素s, owning about 35 per cent of UK.-名簿（に載せる）／表（にあげる）d 鉱夫 Xstrata.

Its opaque nature as an unlisted company manifested when the the cost of insuring against default on its 負債 jumped 16-倍の in the last ４半期/4分の1 of 2008 as 投資家s 推測するd about the company's liquidity.

But its credit default 交換（する） (CDS) spreads have since fallen to an eight-month low, 強化するing another 50 basis points on Friday to 625 basis points.

'The company is 現在／一般に reliant on the 負債 markets for 基金ing, and the experience of the past nine months has 最高潮の場面d the 制限s of this model,' credit 分析家s at RBS said.

One of the 推論する／理由s why the idea of a 名簿（に載せる）／表（にあげる）ing seems 信頼できる are 最近の perceptions that the company has liquidity problems, a 関心 that has 傷つける Glencore's CDS in the past. But 分析家s said they were comfortable with its liquidity.

'Although a 関心 of many 負債 投資家s, we regard the company's liquidity as 適する,' UniCredit said in a 公式文書，認める.

The 最近の 調印 of a $6.7billion 今後-start 協定, a type of 貸付金, and a $8.2billion 回転するing credit 施設 showed the strong 関係 the company has with its banks, UniCredit said.

'This is not the moment to take 活動／戦闘. Glencore has no liquidity problem,' another 銀行業者 said.