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US$ 525 Million Syndicated Revolving Credit and Term Loan Facility Closes Substantially Oversubscribed

 

November 19, 2007

 

Trafigura Beheer B.V., the international commodities trading company, today announces the successful closing of the Company’s syndicated revolving credit and term loan facility. Focused on Asian and Middle Eastern banks, the new facility was initially launched at US$ 400 million as a refinancing of the existing US$ 300 million facility established in 2006.

 

Due to very strong support from institutions with an existing relationship with the Company, and from a number of new banks, Trafigura is pleased to note that the facility closed substantially oversubscribed and will sign at the increased amount of US$ 525 million, whilst still enabling an element of scaling back for the committed banks.

 

Trafigura’s chief financial officer Pierre Lorinet said: “We are delighted that the banks have today demonstrated their continued commitment to and confidence in our growth plans, particularly in light of the recent turmoil in the global credit markets.”

 

The US$ 525 million Facility provides an element of 1, 3 and 5 year finance as follows:

 

  • Tranche A – a US$ 175 million 364 day syndicated revolving credit facility with two 1 year Extension Options;
  • Tranche B – a US$ 225 million 3 year syndicated revolving credit facility; and
  • Tranche C – a US$ 125 million 5 year syndicated term loan facility.

 

The new facility was Trafigura’s second syndicated facility this year following the US$ 1.1 billion multicurrency revolving credit facility closed in March 2007 with mainly European banks.

 

The Company was advised by Barclays Capital, BNP Paribas, and Mizuho Corporate Bank (together the “Mandated Lead Arrangers and Bookrunners”).

 

The syndicate of Banks comprises the following:

 

Mandated Lead Arrangers and Bookrunners

Barclays Capital

BNP Paribas

Mizuho Corporate Bank

 

Mandated Lead Arrangers

Australia and New Zealand Banking Group Limited

Europe Arab Bank plc

nabCapital

Standard Chartered Bank

Sumitomo Mitsui Banking Corporation, Singapore Branch

United Overseas Bank Limited

 

Lead Arrangers

Gulf International Bank B.S.C.

Oversea-Chinese Banking Corporation Limited

The Bank of Tokyo-Mitsubishi UFJ, Ltd.

Westpac Institutional Bank

 

Arrangers

Agricultural Bank of China, Singapore Branch

Chinatrust Commercial Bank, Offshore Banking Branch

CITIC Ka Wah Bank Limited

First Gulf Bank

Korea Exchange Bank, Singapore Branch

Mega International Commercial Bank Co., Ltd., Offshore Banking Branch

Taiwan Cooperative Bank, Offshore Banking Branch

 

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For further information please contact:

 

Trafigura press office:

 

Tel: +44 207 009 1509

 

 

Notes to Editors

 

  • Trafigura is one of the world’s leading international commodity traders, specialising in the oil, minerals and metals market, with 51 offices in 36 countries in Europe, Africa, Asia, Australia, and North, Central and South America. Its principle corporate offices are in Amsterdam, London and Lucerne.
  • Trafigura’s primary trading businesses are the supply and transport of crude oil, petroleum products, natural gas, liquefied natural gas, metals (including copper lead, zinc and aluminium) and metal ores and concentrates.
  • It is the world’s second largest independent non-ferrous trading company and the third largest independent oil trader.
  • Founded in 1993, the company is owned by its founding shareholders and senior management. It has achieved substantial growth in the last five years, growing turnover from US$9 billion in 2002 to US$45 billion in 2006.