Singapore - 7 October 2019
Trafigura Pte Ltd (“Trafigura”), a market leader in the global commodities industry, announced the closure of its new Syndicated Revolving Credit Facility and Term Loan Facilities (the “Facilities”) at USD1.5 billion-equivalent. The Facilities were oversubscribed and upsized from their initial launch amount of USD1.0 billion-equivalent, with 27 banks participating in the transaction.
The new Facilities comprise of a 365-day USD revolving credit facility (USD760 million), a 1-year CNH term loan facility (USD445 million equivalent) and a 3-year USD term loan facility (USD300 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.
Christophe Salmon, Group Chief Financial Officer for Trafigura said: “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. The success of the syndicate demonstrates that Trafigura is a well-established borrower, which commands significant interest in the Asian and Middle Eastern banking market. I was particularly pleased with the increased amount in our 3-year tranche which shows the confidence that banks have about our ability to weather different commodity and credit cycles as well the record level reached under the CNH tranche which has confirms Trafigura’s front-ranking position among commodity traders in the offshore Renminbi centres.”
Trafigura mandated DBS Bank Ltd (“DBS”), Industrial and Commercial Bank of China Limited, London Branch (“ICBC”), Standard Chartered Bank (Singapore) Limited (“SCB”) and Sumitomo Mitsui Banking Corporation Singapore Branch (“SMBC”) as the Mandated Lead Arrangers and Bookrunners. SCB acted as Global Coordinator of the transaction. In addition, seventeen financial institutions joined the USD tranches of the Facilities during syndication.
China Construction Bank Shanghai Pudong Sub-branch (“CCB”), CTBC Bank Co., Ltd (“CTBC”) and ICBC were the Mandated Lead Arrangers and Bookrunners in connection with the CNH syndication of the Facilities. In addition, five financial institutions joined the CNH tranche of the Facilities during syndication.
Founded in 1993, Trafigura is one of the largest physical commodities trading groups in the world. Trafigura sources, stores, transports and delivers a range of raw materials (including oil and refined products and metals and minerals) to clients around the world. The trading business is supported by industrial and financial assets, including 49.3 percent owned global oil products storage and distribution company Puma Energy; global terminals, warehousing and logistics operator Impala Terminals; Trafigura's Mining Group; and Galena Asset Management. The Company is owned by around 700 of its 4,300 employees who work in 66 offices in 38 countries around the world. Trafigura has achieved substantial growth over recent years, growing revenue from USD12 billion in 2003 to USD181 billion in 2018. The Group has been connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade. Visit: https://www.trafigura.com
Trafigura Beheer B.V. press release