Trafigura’s USD1.76 billion Asian RCF closes
The facility was substantially oversubscribed
9 October 2013 - Trafigura Pte Ltd has renewed its Asian syndicated revolving credit and term loan facility at USD1.76 billion.
The facility, which was oversubscribed, was initially launched at USD1.2 billion.
The new deal is comprised of a 364-day revolving credit facility, together with three year and five year term loan facilities, as well as a Renminbi (CNH) financing tranche. Trafigura is the first trader to offer a CNH funded facility, which led to seven new banks joining the facility and significantly increased Trafigura's exposure with Taiwanese banks in particular.
The loan will refinance Trafigura's previous USD1.025 billion 364-day tranche of its USD1.24 billion revolving credit and term loan facility, which closed in October 2012.
Trafigura's Chief Financial Officer and Asia Pacific Managing Director, Pierre Lorinet, said: "We attracted 13 new banks to this facility, including seven that supported the CNH tranche".
"In total, 38 banks are committed to the facility, which demonstrates growing awareness throughout the Asia Pacific region about the success of Trafigura's business model."
Trafigura mandated Australia and New Zealand Banking Group Limited, Industrial and Commercial Bank of China, Standard Chartered Bank, DBS Bank Ltd, National Australia Bank Ltd and Sumitomo Mitsui Banking Corporation as Original Mandated Lead Arrangers and Bookrunners. During syndication, Bank of China Ltd joined at the level of Original Mandated Lead Arranger and Bookrunner.
Trafigura's Global Press Office: +44 207 009 1708 or Email: firstname.lastname@example.org
Notes to Editors
The Trafigura Group is one of the world's leading international commodity traders, specialising in the oil, minerals and metals markets, with 81 offices in 56 countries in six continents.
The Group's primary trading businesses are the supply and transport of crude oil, petroleum products, renewable energies, coal, refined metals, ferrous and non-ferrous ores and concentrates. It is the world's second largest privately owned non-ferrous and oil trading company.
Founded in 1993, the company is owned by its founding shareholders and senior management. It has achieved substantial growth in recent years, growing turnover from USD18 billion in 2004 to USD120.4 billion in 2012. For more information visit: www.trafigura.com.