Commodity trader Trafigura has opened an oversubscribed revolving credit facility (RCF) worth US$1.385bn.

BNP Paribas, Société Générale and Natixis acted as joint bookrunners on the facility. The other participating banks are: Commonwealth Bank of Australia, Rabobank, Crédit Agricole, Standard Chartered, The Bank of Nova Scotia, Fifth Third Bank, Bank of Tokyo-Mitsubishi UFJ, Citibank, Mizuho, JP Morgan, Lloyds TSB, Overseas-Chinese Banking Corp, RB International Finance, Bank of Montreal, SunTrust Bank, Bank of China, Taiwan Cooperative Bank, Banco de Crédito e Inversiones, ICICI Bank Canada and Apple Bank For Savings.

The loan was agreed in Houston, Texas and is to be used for energy trading and marketing operations in North America.

Trafigura’s North America CFO, Bryan Keogh, says: “We’re once again extremely pleased to see the bank syndicate grow with new stakeholders. Trafigura’s investments in North America are bringing new and diverse opportunities across our physical commodity and fixed assets portfolio. This continuing commitment from banking partners allows us to secure market opportunities and grow our energy-related assets.”