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Exclusive: Glencore offers Chad new plan to repay more than $1 billion loan

Reuters  |  LONDON 

By Julia PayneLONDON (Reuters) - Commodities trader Glencore has offered Chad a grace period from principal repayments on a more than $1 billion cash-for-crude loan and extended the deadline for full repayment to 2025 from 2022, a letter seen by Reuters showed.The central African nation is under pressure to restructure its Glencore debt for a second time after the International Monetary Fund said this year that Chad's external commercial debt, mostly to Glencore, was unsustainable.The Swiss-based commodities trader and miner, which lent Chad the money before oil prices began tumbling in ...

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First Published: Wed, November 15 2017. 20:19 IST