Glencore International Plc and Vitol SA, the world’s two biggest oil traders, raised $8.3 billion in loans to fund their crude-purchase deal with OAO Rosneft, according to three people with knowledge of the matter.
Schneider Electric SA, the world’s biggest maker of low- and medium-voltage equipment, is raising a 1 billion-euro ($1.3 billion) credit line to refinance existing debt, three people with knowledge of the matter said.
Coal’s worst slump in seven years has failed to deter GVK Group and Adani Enterprises Ltd. from pressing ahead with a $21 billion bet on Australia’s Galilee Basin as other companies shelve projects amid rising costs.
Commodities fell for a third day, paced by declines in copper and oil, as manufacturing in China unexpectedly shrank for the first time in seven months and the head of the Federal Reserve hinted that stimulus may be tapered.
China’s stocks fell the most in a month, led by material and consumer-discretionary companies, after a report showed an unexpected contraction in manufacturing and Japanese equities plunged the most since 2011.