Trafigura Group , 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.”

Trafigura mandated Agricultural Bank of China Shanghai Huangpu Sub-branch, Bank of Communications Shanghai Putuo Sub-branch, China CITIC Bank Corporation Limited, Shanghai Branch, China Construction Bank Shanghai Pudong Sub-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 (“OCBC”), Qatar National Bank (Q.P.S.C.), Singapore Branch (“QNB”) and Standard Chartered Bank (Singapore) Limited (“SCB”) as the Mandated Lead Arrangers and Bookrunners (“MLABs”). DBS, FAB, OCBC, QNB and SCB acted as Active MLABs. SCB also acted as Global Coordinator of the transaction, and DBS and FAB as Sustainability Coordinators.

China Merchants Bank Co., Ltd Singapore Branch, The Export-Import Bank of China and Postal Savings Bank of China Co., Ltd. Shanghai Pilot Free Trade Zone Branch were the Mandated Lead Arrangers and Bookrunners in connection with the CNH syndication of the Facilities.