Trafigura successfully closes USD400 million Revolving Credit Facilities backed by US EXIM
Singapore, 4 October 2023 – Trafigura Group Pte Ltd. (“Trafigura” or the “Company”), a market leader in the global commodities industry, has successfully entered into two Revolving Credit Facilities (“Facilities”), for a total combined amount of USD400 million, with insurance from the Export-Import Bank of the United States (“US EXIM”). The facilities will exclusively be used by the Company to purchase LNG cargoes from US exporters for supply to customers primarily in Europe, providing energy security through replacement of Russian gas due to the war in Ukraine.
The signing of the agreements follows approval by the US EXIM Board of Directors of two Financial Institution Buyer Credit (“FIBC”) policies issued to two financial institutions, including Citibank, for short-term facilities being extended to Trafigura.
Christophe Salmon, Trafigura’s Group Chief Financial Officer said: “We’re delighted to have successfully closed the first LNG-based facilities backed by US EXIM’s FIBC insurance policy, which supports American jobs by facilitating US exports.”
Citibank, N.A. acted as Sole Arranger with Citibank, N.A., London Branch as ECA Agent and Lender for one of the facilities.
ENDS
For further information please contact:
Trafigura’s Press Office: +41 (0) 22 592 45 28 or media@trafigura.com
About Trafigura
Trafigura is a leading commodities group, owned by its employees and founded 30 years ago. At the heart of global supply, Trafigura connects vital resources to power and build the world. We deploy infrastructure, market expertise and our worldwide logistics network to move oil and petroleum products, metals and minerals, gas and power from where they are produced to where they are needed, forming strong relationships that make supply chains more efficient, secure and sustainable. We invest in renewable energy projects and technologies to facilitate the transition to a low-carbon economy, including through joint ventures H2Energy Europe and Nala Renewables.
The Trafigura Group also comprises industrial assets and operating businesses including multi-metals producer Nyrstar, fuel storage and distribution company Puma Energy, and our Impala Terminals joint venture. The Group employs over 12,000 people and is active in 156 countries.
Visit: www.trafigura.com