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US$1.6bn Multicurrency Revolving Credit Facility Considerably Oversubscribed

 

20 March 2008

 

Trafigura Beheer B.V., the international commodities trading company, today announces the successful signing of the Company’s multicurrency revolving credit facility (the “Facility”), which was launched at US$1.1 billion.

 

Following strong support from institutions with an existing relationship with the Company and together with a group of new banks, the Facility was considerably oversubscribed and signed at the increased amount of US$1.6 billion whilst still allowing for an element of scaling back for the committed banks.

 

The Facility will become effective at the end of this month as a refinancing of the existing US$1.1 billion 2007 facility.

 

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 current turmoil in the global credit markets.”

 

The Facility comprises two tranches:

 

  • Tranche A: a US$575 million 364 day revolving credit facility with two 1 year extension options and a 6 month term out option; and
  • Tranche B: a US$1,025 million 3 year revolving credit facility.

 

Whilst the existing US$1.1 billion facility also provided an element of 3 year finance, this new Facility has increased the 3 year element from 34% of the overall facility amount to 64%.

 

The Facility follows on from the recent US$525 million syndicated revolving credit facility successfully closed in November 2007 with mainly Asian and Middle Eastern banks.

 

 

ENDS

 

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$ 51 billion in 2007.

For further information go to: www.trafigura.com