Trafigura Group Pte Ltd, a market leader in the global commodities industry, announced the closing of its new Syndicated Revolving Credit Facility and Term Loan Facilities at approximately USD3.4 billion-equivalent. The Facilities were substantially oversubscribed and upsized from their initial launch amount of USD2.5 billion-equivalent, with 43 financial institutions participating in the transaction, including six new lenders.
The new Facilities comprise: a 365-day USD revolving credit facility (USD1,1 billion); a 1-year CNH term loan facility (USD1,1 billion-equivalent); and a 3-year USD term loan facility (USD1,2 billion). The new Facilities will be used to refinance the maturing 3-year term loan tranche from 2022 and the maturing 1-year USD and 1-year CNH tranches from 2024, as well as for general corporate purposes.
Stephan Jansma, Group Chief Financial Officer, Trafigura, said: “We have successfully refinanced our unsecured syndicated facilities, securing close to USD800 million in additional liquidity, mostly in the 3-year tranche, and welcoming a number of new lenders. We are grateful for the continued strong support from banking partners across Asia and the Middle East, with strong participation from Chinese institutions. This transaction underscores the confidence lenders place in the strength of our balance sheet and financial performance, and ensures we are well positioned to support our customers across all market conditions.”
T