Trafigura Group Pte Ltd closes USD2.4 billion-equivalent Syndicated Revolving Credit Facility and Term Loan Facilities
Singapore, 25 October 2021 - Trafigura Group Pte Ltd (“Trafigura”), a market leader in the global commodities industry, announced the closure of its new Syndicated Revolving Credit Facility (“RCF”) and Term Loan Facilities (the “Facilities”) at USD2.4 billion-equivalent. The Facilities were substantially oversubscribed and upsized from their initial launch amount of USD1.5 billion-equivalent, with 36 financial institutions participating in the transaction, including eight new lenders.
The new Facilities comprise of a 365-day USD revolving credit facility (USD700 million), a 1-year CNH term loan facility (c. USD890 million-equivalent) and a 3-year USD term loan facility (USD810 million). The new Facilities will be used to refinance the maturing 3-year term loan tranche from 2018 and the maturing 1-year USD and 1-year CNH tranches from 2020, as well as for general corporate purposes.
Christophe Salmon, Group Chief Financial Officer for Trafigura, said: “We are extremely pleased with the record support we received from the banking community across Asia Pacific and Middle East. Trafigura’s exceptional business and financial performance underpinned the commitment of our banks to these Facilities, especially the three year tranche, which shows confidence about our ability to weather different commodity and credit cycles. The implementation of a sustainability-linked loan structure in the new Facilities, in line with our European RCF that closed in March 2021, was a very important step to demonstrate Trafigura’s commitment to champion the ESG agenda in our sector.”
Trafigura mandated Bank of Communications Shanghai Putuo Sub-Branch (“BoComm”), DBS Bank Ltd. (“DBS”), Standard Chartered Bank (Singapore) Limited (“SCB”) and Sumitomo Mitsui Banking Corporation Singapore Branch (“SMBC”) as the Mandated Lead Arrangers and Bookrunners. SCB acted as Global Coordinator of the transaction. Development Bank of Japan Inc. (“DBJ”) acted as Mandated Lead Arranger in connection with the syndication of the 3-year USD term loan facility. In addition, 25 financial institutions joined the USD tranches of the Facilities during syndication.
Agricultural Bank of China Shanghai Huangpu Branch (“ABC”) and China Construction Bank Shanghai Pudong Sub-branch (“CCB”) were the Mandated Lead Arrangers and Bookrunners in connection with the CNH syndication of the Facilities. In addition, six financial institutions joined the CNH tranche during syndication.
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Trafigura Press Office: +41 (0) 22 592 45 28 or firstname.lastname@example.org
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 and has recently established a power and renewables trading division.
The trading business is supported by industrial and financial assets, including a majority ownership of global zinc and lead producer Nyrstar which has mining, smelting and other operations located in Europe, Americas and Australia; a significant shareholding in global oil products storage and distribution company Puma Energy; global terminals, warehousing and logistics operator Impala Terminals; Trafigura’s Mining Group; and Galena Asset Management.
With circa. 850 shareholders, Trafigura is owned by its employees. Over 8,500 employees work in 48 countries around the world. Trafigura has achieved substantial growth over recent years, growing revenue from USD12 billion in 2003 to USD147 billion in 2020. The Group has been connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade.