Trafigura signs USD 2.05 bn multi-currency RCF


Trafigura Group Signs USD 2.5 Billion European Multicurrency Revolving Credit Facility Trafigura Group Pte Ltd. (“Trafigura” or the “Company”), a market leader in the global commodities industry, has successfully signed a new 365-day multi-currency syndicated revolving credit facility (the “365-day ERCF”) totaling USD2.05 billion. The 365-day ERCF, initially launched at USD1.5 billion, was very well received by the bank market and closed substantially oversubscribed, allowing the Company to upsize the facility.

The 365-day ERCF will be used to refinance the maturing USD2.2 billion 365-day tranche of the Company’s existing USD5.725 billion facility dated 15 March 2018 (the “2018 ERCF”), as well as for general corporate purposes.

Christophe Salmon, Chief Financial Officer for Trafigura, commented: “We have successfully refinanced Trafigura’s one year flagship credit facility at tighter pricing levels and with the support of a larger and more diverse bank group. We were also pleased to see an overwhelming support for the extension of the three year tranche of our 2018 ERCF which we ran concomitantly to the refinancing of the one year credit facility. We are grateful for the trust that the banking community gives to Trafigura year after year and are delighted to welcome new banks to the facility.”

The facility was arranged by Mandated Lead Arrangers & Bookrunners Citigroup Global Markets Limited, Mizuho Bank, Ltd. and MUFG Bank, Ltd. acting as Active Bookrunners, along with ABN AMRO Bank N.V., Bank of America Merrill Lynch International Designated Activity Company and Commerzbank AG, London Branch acting as Passive Bookrunners. In addition to the six Mandated Lead Arrangers & Bookrunners, three Mandated Lead Arrangers and 31 additional financial institutions joined the 365-day ERCF during syndication, totaling 40 banks.

In addition, the Company decided to exercise the first extension option available on the 3-year tranche of its 2018 ERCF, thereby extending the facility by 365 days.

Sea News, March 15