Commodities trading company Trafigura has received support from new and existing banks in the renewal of its 364-day US$1.3bn secured revolving credit facility.

The proceeds of the renewed loan will be used to support the company’s energy trading and marketing operations in North America.

Bookrunners on the oversubscribed deal include BNP Paribas, Crédit Agricole, Rabobank and Société Générale.

Other participants were Natixis, Standard Chartered, Commonwealth Bank of Australia, the Bank of Tokyo-Mitsubishi UFJ, Citibank, Mizuho Bank, Taiwan Co-operative Bank, The Bank of Nova Scotia, JP Morgan Chase Bank, RB International Finance (USA), Apple Bank For Savings, and Fifth Third Bank.

Trafigura’s North America chief financial officer, Bryan Keogh says: “The Trafigura Group is once again extremely pleased to see strong support from pre-existing relationship banks as well as some new institutions who have dedicated the time to understand and support our business model.”

Trafigura was last in the market in July this year with a US$158mn three-year offtake agreement with Malaysia Steel Works (Masteel).