Trafigura signs USD3 billion loan agreement guaranteed by the Federal Republic of Germany to secure gas supply
Geneva, December 5, 2022 - Trafigura, a market leader in the global commodities industry, has entered into a USD3 billion four-year loan jointly arranged and underwritten by Deutsche Bank and another international bank and syndicated to a number of participating banks. Over 25 banks participated in the successful syndication which was 1.6 times oversubscribed.
The loan is secured, in part, by a guarantee under the Untied Financial Loan program (UFK) of the government of the Federal Republic of Germany acting through the German Export Credit Agency (ECA) Euler Hermes Aktiengesellschaft. The program is a tool to secure the long-term delivery of strategic commodities to Germany.
The loan will support a new commitment by Trafigura to deliver substantial volumes of gas into the European gas grid, and ultimately into Germany, over the next four years. Trafigura will supply the gas to Securing Energy for Europe (SEFE), which was recently recapitalised by the German government. The first gas delivery took place on 1 November 2022 and Trafigura will primarily use existing quantities from its global gas and LNG portfolio to help secure gas supplies to SEFE. The agreement included a review of Trafigura’s environmental, social and governance (ESG) policies and performance.
“We are proud to be contributing to Europe’s energy security by supplying this significant volume of gas to Germany backed by our extensive portfolio and long term US LNG contracts,” said Richard Holtum, Head of Gas and Power Trading for Trafigura.
For further information, please contact:
Notes to editors
Founded in 1993, Trafigura is one of the largest physical commodities trading groups in the world. At the heart of global supply, Trafigura connects the world with the vital resources it needs. Through our Oil & Petroleum Products, Metals & Minerals, and Power & Renewables divisions, we deploy infrastructure, skills and a global network to move commodities from where they are plentiful to where they are needed most, forming strong relationships that make supply chains more efficient, secure and sustainable.
Trafigura also owns and operates a number of industrial assets including multi-metals producer Nyrstar and fuel storage and distribution company Puma Energy; and joint ventures Impala Terminals, a port and logistics provider, and Nala Renewables, a power and renewable energy investment and development platform. Trafigura is owned by its employees and employs over 13,000 people working in 48 countries.