Glencore is a member of the FTSE-100. It has 160,000 employees and contractors in over 50 countries. It produces and trades more than 90 commodities derived from natural resources
It the world of commodity prices slumping, the company is carrying a mountain of debt
http://www.shareshop.hsbc.co.uk/shareshop/security.cgi?csi=2558517
it is exceptionally exposed to the falling price of commodities.
It has to issue a press release to explain its position
Long-term debt of $31.1 Billion with $5.4 Billion maturing within 12months. [$31.1 Billion = £21.59 Billion, $5.4 Billion = £3.78 Billion]
That is the problem of carrying such large amounts of debt. When times are good, maintaining debt repayments is trivial. But when market conditions worsen, them the situation is very different.