Credit facility oversubscribed
Successful signing of company's multi-currency syndicated revolving credit facility
27 April 2009 - Trafigura Beheer B.V., the international commodities trading company, today announces the successful signing of the Company’s multicurrency syndicated revolving credit facility (the “Facility”), which was launched at US$350 million.
Following strong support from institutions with an existing relationship with the Company and together with a number of new banks, the Facility was considerably oversubscribed and signed at the increased amount of US$520 million.
The Facility serves as a refinancing of the existing 1 year 2008 facility.
Trafigura’s chief financial officer Pierre Lorinet said: “The success of the syndication demonstrates once again the strong relationships we enjoy with the banking community as well as the strength of Trafigura’s business model which, despite the difficult market environment, continues to generate strong profitability.“
The Facility has a tenor of 364 days, with two 1 year extension options. The Facility can be drawn in multiple currencies and includes the provision of off balance sheet instruments.
The Facility follows on from the recent US$200 million syndicated revolving credit facility successfully closed in November 2008 with mainly Asian banks.
Trafigura press office:
Tel: +44 207 009 1708 or firstname.lastname@example.org