Trafigura raises RMB1,500 million from new Panda Bond programme

Singapore, 24 January 2025 – Trafigura Group Pte Ltd. (“Trafigura” or the “Company”), a market leader in the global commodities industry, has successfully issued a 1,500 million renminbi-denominated bond (circa USD205 million equivalent) with a tenor of three years, in China’s domestic debt market (“Panda Bond”).

This marks the successful return to the Panda Bond market for Trafigura after a three year period. The significant size of the financing demonstrated the strong appetite from Chinese and international RMB investors, including commercial banks, asset managers and securities firms.

“Since 2018 Trafigura has been a regular international issuer in the Panda Bond market which offers competitive pricing for long term capital and adds to the diversification of Trafigura’s sources of funding,” said Claire Chen, Trafigura China’s Chief Financial Officer.

The total size of the Company’s new Panda Bond programme placed in the Interbank Market has been registered with the National Association of Financial Market Institutional Investors (NAFMII) for RMB5,000 million, allowing regular tranches to be issued under the programme. Approval has been received from the People’s Bank of China for the bond’s proceeds to be repatriated offshore where the funds will be used for general corporate purposes.

Thirteen investors took part in the Panda Bond, with Bank of China Limited acting as Lead Bookrunner, with Bank of Communications Co., Ltd; China Merchants Bank Co., Ltd and Postal Savings Bank of China Co., Ltd as Joint Lead Bookrunners.

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 MorGen Energy 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 13,000 people, of which over 1,400 are shareholders and is active in over 150 countries.

Visit: www.trafigura.com