Trafigura Trading LLC successfully renews and enlarges its North American Energy Borrowing Base Credit Facility
Houston, 27 June 2023 - Trafigura Trading LLC (“Trafigura”), a wholly-owned subsidiary of Trafigura Group Pte Ltd, a market leader in the global commodities industry, has this month renewed its North American Energy Borrowing Base Credit Facility (the “Facility”).
Trafigura launched a 2-year, USD4.25 billion Facility in April 2023 and received over USD4.5 billion in total commitments. Following a strongly oversubscribed syndication, Trafigura closed the largest Facility in the North American commodity finance market at USD4.54 billion. The increased liquidity positions Trafigura to continue growing its market share in trading hydrocarbons, transition and renewable fuels, power and carbon credits.
Trafigura continues to be one of the largest domestic marketer and exporter of crude and petroleum products in North America, supported by its extensive network and logistic assets, as well as its access to crude oil from Canada, Bakken, PRB, DJ Basin, Eagle Ford to the Permian Basin.
Trafigura’s North American Chief Financial Officer, TJ Tedla, said: “Immediately after releasing our record six-month interim results for the period ending Mar 31, 2023, we achieved a successful syndication of our North America Energy flagship facility. The strong oversubscribed commitment from our financing partners is a testament of their confidence in our ability to respond to the strong demand for our services amid challenging market conditions and continued disruption to the movement of vital resources around the world. The facility has also been enhanced to allow the financing of low-carbon feedstocks and fuels.”
Acting Lead Arrangers and Joint Book-runners were MUFG (also acting as Administrative Agent and Collateral Agent), Société Générale, and Natixis, New York Branch. Also, Société Générale, Natixis, Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation, Credit Agricole Corporate and Investment Bank, and Cooperative Rabobank U.A., New York Branch acted as Syndication Agents.
For further information, please contact:
Trafigura Press Office: +41 (0) 22 592 4528 or firstname.lastname@example.org
Notes to editors
Trafigura is a leading commodities group, owned by its employees and founded 30 years ago. At the heart of global supply, Trafigura connects vital resources to power and build the world. We deploy infrastructure, market expertise and our worldwide logistics network to move oil and petroleum products, metals and minerals, gas and power from where they are produced to where they are needed, forming strong relationships that make supply chains more efficient, secure and sustainable. We invest in renewable energy projects and technologies to facilitate the transition to a low-carbon economy, including through joint ventures H2Energy Europe and Nala Renewables.
The Trafigura Group also comprises industrial assets and operating businesses including multi-metals producer Nyrstar, fuel storage and distribution company Puma Energy, and our Impala Terminals joint venture. The Group employs over 12,000 people and is active in 156 countries.