Trafigura secures USD3.2 billion-equivalent Syndicated Revolving Credit Facility and Term Loan Facilities

Singapore, 30 September 2024 – Trafigura Group Pte Ltd (“Trafigura”), a market leader in the global commodities industry, announced the closing of its new Syndicated Revolving Credit Facility (“RCF”) and Term Loan Facilities (the “Facilities”) at approximately USD3.2 billion-equivalent. The Facilities were substantially oversubscribed and upsized from their initial launch amount of USD2.0 billion-equivalent, with 38 financial institutions participating in the transaction, including five new lenders. 

The new Facilities comprise: a 365-day USD revolving credit facility (USD705 million); a 1-year CNH term loan facility (approximately USD1,289 million-equivalent); and a 3-year USD term loan facility (USD1,236 million). The new Facilities will be used to refinance the maturing 3-year term loan tranche from 2021 and the maturing 1-year USD and 1-year CNH tranches from 2023, as well as for general corporate purposes. 

Stephan Jansma, Group Chief Financial Officer, Trafigura, said: “We have successfully refinanced our unsecured syndicated facilities with more than USD600 million in additional liquidity and a number of new lenders. Once again we appreciate the strong support we received from banking markets across Asia Pacific and the Middle East, with particularly strong support from Chinese banks. Our funding position leaves us very well prepared to serve our customers in all market conditions.” 

In line with the previous years, the Facilities were structured as sustainability-linked loans (“SLL”). As with Trafigura’s European RCF closed in March 2024, this renewed SLL structure includes three key performance indicators (“KPIs”) to improve Trafigura’s sustainability performance, aligned with material issues for its business. The progress towards each target will be evaluated on an annual basis and verified by an independent assurance provider. A penalty or discount on the margin will be applied, depending on the number of targets met each year. 

Trafigura mandated Bank of Communications Shanghai Putuo Sub-branch, China Construction Bank Shanghai Pudong Sub-branch, China Everbright Bank Co., Ltd., Hong Kong Branch, DBS Bank Ltd. (“DBS”), First Abu Dhabi Bank PJSC (“FAB”), Industrial and Commercial Bank of China Limited, London Branch, Oversea-Chinese Banking Corporation Limited and Standard Chartered Bank (Singapore) Limited (“SCB”) as the Mandated Lead Arrangers and Bookrunners. DBS also acted as Global Coordinator of the transaction. FAB and SCB acted as Sustainability Coordinators. 

The Export-Import Bank of China and China Merchants Bank Co., Ltd Singapore Branch were the Mandated Lead Arrangers and Bookrunners in connection with the CNH syndication of the Facilities. 

ENDS 

For further information please contact:  

Trafigura’s Press Office: +41 (0) 22 592 4528 or media@trafigura.com 
 

About Trafigura 
Trafigura is a leading commodities group, owned by its employees and founded over 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 H2Energy Europe and joint venture Nala Renewables. 

The Trafigura Group also comprises industrial assets and operating businesses including multi-metals producer Nyrstar, fuel storage and distribution company Puma Energy, the Impala Terminals joint venture and Greenergy, supplier and distributor of transportation fuels and biofuels. The Group employs over 12,000 people, of which over 1,400 are shareholders and is active in 156 countries.

Visit: www.trafigura.com