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Press release

Trafigura successfully closes new USD1 billion financing facility

Published on13 Jan 2025

Singapore, 13 January 2025 – Trafigura, a market leader in the global commodities industry, today announces the closing of its inaugural uncommitted discounted facility of credit-insured receivables and prepayments (the “Facility”) totalling USD1 billion. The Facility was substantially oversubscribed and upsized from its initial launch amount of USD800 million, with seven financial institutions participating in the transaction.    

 

Stephan Jansma, Group Chief Financial Officer, Trafigura said: “This is the first time a commodity trading company has successfully aligned the interests of financial institutions and insurers around a syndicated facility of this nature, allowing off-balance sheet treatment of receivables and prepayments. We’re grateful for the strong collaboration with our financial institutions, insurance and legal counterparties to successfully conclude this new facility.”  

 

The Facility has been strategically structured to optimise the accounting treatment of insured receivables and prepayments in accordance with the Capital Requirements Regulation. This innovative approach transfers the credit risk from the end buyer or producer to the insurer, enabling banks to discount these receivables. Under this Facility, Trafigura Group companies will benefit from discounting on a limited recourse basis, with the credit risk fully backed by insurers approved by the participating bank syndicate.  

 

Natixis CIB was mandated to arrange and coordinate the Facility, serving as the document, facility and security agent, as well as sole Active Bookrunner and Mandated Lead Arranger. First Abu Dhabi Bank PJSC, Mizuho Bank, Ltd. and MUFG, acted as Mandated Lead Arrangers; Abu Dhabi Commercial Bank PJSC, Nedbank Ltd, London Branch, acted as Lead Arrangers; and Bank ABC (ABC International Bank Plc) acted as Arranger. Brokers Lockton and Guy Carpenter supported the structuring of the Facility.  

 

ENDS  

 

For further information please contact:  

Trafigura’s Press Office: +41 (0) 22 592 4528 or media@trafigura.com  
  

About Trafigura

Trafigura is a leading commodities group, owned by its employees and founded over 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 MorGen Energy and joint venture Nala Renewables.

 

The Trafigura Group also comprises industrial assets and operating businesses including multi-metals producer Nyrstar, fuel storage and distribution company Puma Energy, the Impala Terminals joint venture and Greenergy, supplier and distributor of transportation fuels and biofuels. The Group employs over 13,000 people, of which over 1,400 are shareholders and is active in over 150 countries.

 

Visit: www.trafigura.com