Trafigura group pte ltd signs USD5.1 billion european multicurrency syndicated revolving credit facilities and a record JPY46bn denominated three year loan
Singapore, 24th March 2016 - Trafigura Group Pte Ltd. (“Trafigura” or the “Group”), a market leader in the global commodities industry, has successfully signed its flagship European multi-currency syndicated revolving credit facilities (the “ERCF”) totalling USD5.1 billion. The ERCF, initially launched at USD4.275 billion, was very well received by invited banks and closed substantially oversubscribed. In a separate agreement Trafigura closed a JPY46 billion (USD413 million) three year term loan (“Samurai Loan”), almost double the size of the company’s previous Samurai Loan which raised JPY 25.5bn (USD 280 million) in 2014.
The ERCF comprises a USD1.91 billion 364-day revolving credit facility with two 364-day extension options, and a USD3.19 billion 3-year revolving credit facility with two 1-year extension options. The ERCF will be used to refinance the Company’s existing USD5.3 billion facilities dated 30th March 2015, as well as for general corporate purposes.
Twelve Japanese financial institutions supported the Samurai Loan, demonstrating the growing interest in Trafigura which continues to deliver a strong commercial and financial performance. Five new institutions joined the syndicate, while the majority of existing lenders continued to participate and increased the amount they contributed to the loan which refinances the 2014 Samurai Loan and will also be used for general corporate purposes.
“We’ve met our target of raising collectively over USD5.5 billion at a tighter price, a more than adequate sum to finance company operations in current market conditions,” said Christophe Salmon, Chief Financial Officer for Trafigura. “We are delighted that banking institutions are showing a sustained interest in the commodity sector and in best-in-class companies such as Trafigura who are able to deliver profitable and sustained growth.”
The ERCF was arranged by Mandated Lead Arrangers & Bookrunners Lloyds Bank plc, Société Générale Corporate & Investment Banking, UniCredit Bank AG as Active Bookrunners on this year’s syndication along with ING Bank N.V., The Royal Bank of Scotland plc and Rabobank. In addition to the six Mandated Lead Arrangers & Bookrunners, three Mandated Lead Arrangers and 36 additional financial institutions joined the ERCF during syndication, totalling 45 banks.
The Bank of Tokyo-Mitsubishi UFJ, Ltd and Mizuho Bank acted as Bookrunners and Mandated Lead Arrangers for the Samurai Loan.
For further information please contact:
Trafigura’s Global Press Office - Tel: +41 (0) 22 592 4528 or email@example.com
Notes to editors
Founded in 1993, the Trafigura Group has become one of the world’s leading independent commodity traders, specialising in the oil, minerals and metals markets. The company has achieved substantial growth in recent years, growing revenue to USD97.2 billion in 2015. Primary trading activities are the supply and transport of oil and petroleum products and metals and minerals. The trading business is supported by industrial and financial assets including global oil products distribution company Puma Energy; joint venture company DT Group; global terminals operator Impala Terminals and Trafigura’s Mining Group.