Falling commodity prices take toll on world's biggest trader

LONDON: Glencore International AG, the world's largest commodity trader, is considering an initial public offering after the credit crisis and tumbling commodity prices threatened to curb its funding.

Glencore said on Wednesday it sold as much as $2.2 billion of bonds to investors including BlackRock Inc and Government of Singapore Investment Corp. The bonds are convertible upon an IPO, the Baar, Switzerland-based trader said. An offering would end more than three decades of the company operating as a closely held partnership.