Press release

Trafigura raises USD600m through its second US Dollar Perpetual Subordinated Bond

Published on14 Mar 2017

Singapore, 14 March 2017 – Trafigura Group Pte Ltd (“Trafigura”), one of the world’s leading independent commodity trading companies, has today announced the successful raising of USD600 million through its second US Dollar Perpetual Subordinated Bond. The Bond, which was priced at 6.875 percent and listed on the Singapore Stock Exchange, drew strong support from institutional investors and private banks. The quality of the order book was reflected in the spread and geographical diversity of investors (close to 200 accounts). The transaction was very well received in Europe and Asia with a split of 39 percent from Asia and 61 percent from Europe. The significant oversubscription (close to three times) enabled the company to upsize the transaction to USD600m and to significantly tighten pricing from the initial guidance of 7.25 percent to the final level of 6.875 percent.


The new hybrid instrument is the third Perpetual Subordinated Bond issued by Trafigura, after a USD500 million bond issued in April 2013 and a SDG200 million bond launched in February 2014. It confirms Trafigura’s ready access to capital markets.


Funds raised will support Trafigura’s capital investment programme and strengthen the company’s balance sheet due to the equity treatment of the instrument under the IFRS accounting standard.


Christophe Salmon, Chief Financial Officer for Trafigura, said: “We’re delighted to have successfully issued our third perpetual subordinated bond which allows us to further diversify our financing base and reinforce our balance sheet. It is always valuable to meet with capital markets investors and we were very pleased to see that the level of understanding of Trafigura’s business model, consistent performance and credit history has progressed significantly in the investor community.


Joint bookrunners on the transaction were ANZ, Bank of America Merrill Lynch (Structuring Agent), DBS Bank Ltd. (B&D), and Deutsche Bank.





For further information please contact:

Trafigura’s Global Press Office- Tel+41 22 5924 4528 or OR

Poh Leng Yu, Ruder Finn Singapore – Tel: +65 6235 4495 or


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 49.6 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 around 600 of its 4,100 employees who work in 61 offices in 36 countries around the world. Trafigura has achieved substantial growth over recent years, growing revenue from USD12 billion in 2003 to USD98.1 billion in 2016. The Group has been connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade.