Trafigura Secures USD 1.5 Bn of Finance Deals

Commodities trading giant Trafigura has closed a new revolving credit facility and term loan facilities at USD 1.5 billion-equivalent.

The company noted that the loans were oversubscribed and upsized from their initial launch amount of USD 1 billion-equivalent, with 27 banks participating in the transaction.

The new facilities comprise of a 365-day USD revolving credit facility of USD 760 million, a 1-year CNH term loan facility of USD 445 million equivalent and a 3-year USD term loan facility of USD 300 million. The new Facilities will be used to refinance the maturing 3-year term loan tranche from 2016 and the maturing 1-year USD and 1-year CNH tranches from 2018, as well as for general corporate purposes.

“We are very pleased with the outcome of the syndication, showing once again our strong access to committed sources of funding from banks across Asia Pacific and the Middle East who also participated in the Facilities,” Christophe Salmon, Group Chief Financial Officer for Trafigura, said.

Trafigura mandated DBS Bank Ltd, Industrial and Commercial Bank of China Limited, London Branch, Standard Chartered Bank (Singapore) Limited and Sumitomo Mitsui Banking Corporation Singapore Branch as the mandated lead arrangers and bookrunners.

In addition, seventeen financial institutions joined the USD tranches of the facilities during syndication.