Singapore, 1st October 2015 - 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 USD2.2 billion-equivalent today. The Facilities were oversubscribed and subsequently upsized from USD1.6 billion-equivalent to USD2.2 billion. The transaction was strongly supported by the banking community with a total of 28 banks participating in the Facilities.
The new Facilities comprise a 364-day USD-denominated revolving credit facility (USD1,320 million), a three year USD term loan facility (USD625 million), as well as a Renminbi (CNH) denominated one year tranche (USD255 million). The new Facilities will refinance the maturing three year tranche from 2012 and the maturing one year RCF and one year CNH tranches from 2014. The Facilities will be used for general corporate purposes. This is the third year that a CNH tranche has been included; with the tranche size increasing by USD40 million in CNH equivalent from the 2014 syndication.
“Trafigura has further increased its strong access to committed sources of funding from banks across Asia Pacific, as well as from the Middle East, India and Europe participating in the Facilities,” said Christophe Salmon, Chief Financial Officer for Trafigura. “This also builds on the successful signing of our flagship European multi-currency syndicated revolving credit facilities totalling USD5.3 billion in March this year which was supported by over 50 financial institutions. The fund-raising illustrates once again the strengths and resilience of our diversified funding model, founded on a broad and stable set of banking relationships.”
Trafigura mandated Australia and New Zealand Banking Group Limited (“ANZ”), DBS Bank Ltd. (“DBS”), First Gulf Bank PSJC (“FGB”), Industrial and Commercial Bank of China Ltd (“ICBC”), Oversea-Chinese Banking Corporation Limited (“OCBC Bank”), and United Overseas Bank Limited (“UOB”) and Sumitomo Mitsui Banking Corporation (“SMBC”) as the Original Mandated Lead Arrangers and Bookrunners (“OMLABs”). In addition, Bank of China (“BOC”) joined as an MLAB. Three Mandated Lead Arrangers and eleven financial institutions joined as well the Facilities during syndication.
ICBC and CTBC Bank Co., Ltd. (“CTBC”) were active bookrunners (collectively the “CNH Active Bookrunners”) in connection with the CNH syndication of the Facilities. In addition, one CNH Mandated Lead Arranger and four financial institutions joined the CNH tranche of the Facilities during syndication.
Banks providing the Facilities
1-year CNH Term Loan Facility
For further information contact:
Andy Tan, UOB Group – Tel: +65 (6539) 1205 or Tel: +65 (9873) 4889 or Email: Andy.TanYY@UOBgroup.com
Poh Leng Yu, Ruder Finn PR Singapore - Tel: +65 6235 4495 or Email: yupl@RuderFinnAsia.com
Trafigura’s Global Press Office - Tel: +41 (0) 22 592 4528 or Email: firstname.lastname@example.org
Notes to editors
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 percent owned global oil products storage and distribution company Puma Energy; global terminals, warehousing and logistics operator Impala Terminals; Trafigura's Mining Group; 50 percent owned DT Group which specialises in logistics and trading; and Galena Asset Management. The Company is owned by over 600 of its almost 5,300 employees who work in offices in 36 countries around the world. Trafigura has achieved substantial growth over the last ten years, growing turnover from USD12 billion in 2003 to USD128 billion in 2014. The Group has been connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade.