Global commodity trader Trafigura has closed US$4.4 billion in syndicated revolving credit and term loan facilities, up from US$3.4 billion a year ago, Global Trade Review (GTR) reported. The financing package was substantially oversubscribed and upsized from an initial launch amount of US$3.5 billion equivalent, with 40 financial institutions participating.
The package comprises four tranches: a 365-day US$1.1 billion revolving credit facility (RCF), a one-year offshore renminbi term loan worth US$1.6 billion equivalent, a three-year US$1.5 billion term loan, and a five-year US$200 million RCF. Trafigura said the proceeds will refinance maturing three-year debt from 2023 and one-year US dollar and renminbi tranches from 2025, as well as support general corporate purposes.
Trafigura Group Chief Financial Officer Stephan Jansma stated that the company secured about US$950 million in additional liquidity, primarily across the three-year and five-year tranches. Jansma noted that adding a five-year tranche supports the firm's strategy to extend its maturity profile, expressing gratitude for continued strong support from lenders across Asia and the Middle East, particularly Chinese banks.
UAE lenders Abu Dhabi Commercial Bank (ADCB) and First Abu Dhabi Bank (FAB) joined the deal as mandated lead arrangers and bookrunners (MLABs). They were joined by Chinese institutions including Agricultural Bank of China, Bank of Communications, China Bohai Bank, China Citic Bank, China Construction Bank, China Merchants Bank, and ICBC, while OCBC served as global coordinator alongside active MLABs BBVA, DBS, and Standard Chartered.
The offshore renminbi facility was arranged by MLABs including the Export-Import Bank of China, Postal Savings Bank of China, Shanghai Pudong Development Bank, and Shanghai Rural Commercial Bank. Unlike the trader's 2025 facilities, the latest transaction made no reference to sustainability-linked pricing targets, GTR noted.
Sources
- gtreview.com · 2026-10-01
