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US$2,325 million Syndicated Revolving Credit Facility Closed Significantly Oversubscribed

 

17 March, 2010

 

Trafigura Beheer B.V. (“Trafigura” or “the Company”), the international commodities trading company, today announces the successful closing of the Company’s syndicated revolving credit facility (the “Facility”), which was launched at US$1,500 million.

 

Following strong support from new and existing institutions predominantly in the European markets, the Facility was significantly oversubscribed with total commitments received nearing US$2.5 billion. The Facility subsequently closed at an increased amount of US$2,325 million, allowing an element of scale back for the committed banks.

 

The Facility serves as a refinancing of the Company’s existing US$520 million 1 year facility, which signed in March 2009, and the remaining 3 year (US$1,025 million) tranche from the Company’s US$1,600 million facility which signed in March 2008 (together the “Existing Facility”).

 

Trafigura’s chief financial officer Pierre Lorinet said: “The Facility is an excellent result for Trafigura. The support received from the banking community demonstrates the banks’ long-term confidence in Trafigura’s business model and conservative approach to risk management, which continues to be the driver behind the Company’s strong profitability. The Facility will further enable Trafigura to continue its long-term growth strategy”.

 

The Facility comprises two tranches:

-       Tranche A: a US$625 million 364-day revolving credit facility with two 1 year extension options; and

-       Tranche B: a US$1,700 million 3 year revolving credit facility.

 

The Facility can be drawn in multiple currencies and includes the provision of off-balance sheet instruments.

 

Whilst the Existing Facility also provided an element of 3 year finance, this new Facility has increased the 3 year element of the overall facility amount to 73%.

 

The Facility follows the successful close of a US$700 million syndicated revolving credit facility in November 2009, targeted at the Asian market.

 

ENDS

 

 

For further information please contact:

 

Trafigura press office:

 

Tel: +44 207 009 1509

media@trafigura.com

 

 

 

Notes to Editors

 

Trafigura is one of the world’s leading international commodity traders, specialising in the oil, minerals and metals market, with 67 offices in 44 countries in Europe, Africa, Asia, Australia, and North, Central and South America. Its principal corporate offices are in Amsterdam, London and Lucerne.

 

Trafigura’s primary trading businesses are the supply and transport of crude oil, petroleum products, renewable energies, non-ferrous concentrates and refined metals.

 

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$18 billion in 2004 to US$47 billion in 2009.

 

For further information go to: www.trafigura.com