BRIEF-Glencore says unit enters into streaming agreement with Silver Wheaton
Nov 4 (Reuters) - Glencore Plc
* Transaction forms part of glencore's debt reduction plans announced on 7 september 2015.
* Long-Term streaming agreement entered into by anani investments limited (unit of glencore) with silver wheaton
* Silver wheaton will make an advance payment of us$900 million to glencore five business days after closing of transaction
* After closing silver wheaton will pay 20% of spot price at time of delivery for each ounce of silver delivered
* Glencore will deliver silver to silver wheaton equivalent to 33.75% of silver produced by antamina mine at a 100% payable rate
* After 140 million ounces of silver have been delivered under streaming agreement, stream will be reduced to equivalent of 22.50% Source text for Eikon: Further company coverage:
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