Multicurrency Revolving Credit Facilities
8 March 2011 - Trafigura Beheer B.V. (“Trafigura” or the “Company”) is very pleased to announce the signing of multicurrency revolving credit facilities (the “Facilities”) totalling USD 3.175 bn. The Facilities, which initially launched at USD 2.500 bn was considerably oversubscribed with total commitments received nearing USD 3.325 bn with strong demand from 45 new and existing institutions. It was subsequently signed at USD3.175 bn, allowing an element of scale-back for the committed banks.
The Facilities will be used to refinance the Company’s existing USD 2.325 bn revolving credit facilities dated 17 March 2010 as well as for general corporate purposes. They comprise of
- A USD 676 m 364-day revolving credit facility with two 364 day extension options plus a 364 day Term Out option; and
- A USD 2.499 bn 3-year revolving credit facility with one 364 day extension option
Trafigura’s Chief Financial Officer Pierre Lorinet said: “Once again, Trafigura received very strong support from the banking community for the Revolving Credit Facility, but this year marks a real watershed with a closed amount of US$3.175 billion after scale-back. This is an excellent result for Trafigura. It demonstrates the long-term confidence of the banks in our business model, conservative approach to risk management and strong liquidity management.”
The Facility follows on from the success of Trafigura’s US$1.075 bn syndicated Revolving Credit Facility aimed predominantly at its Asian banks, which closed in October 2010.
Trafigura mandated BNP Paribas, ING Bank N.V., Lloyds Bank Corporate Markets, The Royal Bank of Scotland plc, Société Generale Corporate & Investment Banking and Standard Chartered Bank as Mandated Lead Arrangers and Bookrunners to arrange the Facilities. A total of 3 Mandated Lead Arrangers plus 34 banks committed during general syndication in addition to the 6 Bookrunners and 2 Mandated Lead Arrangers that committed in advance of syndication.
Trafigura Press Office
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