Trafigura has renewed support from lenders for a ¥123.45bn (US$815.8mn) term loan, the commodity trader’s seventh yen-denominated Samurai loan.

The deal refinances Trafigura’s 2020 and 2022 Samurai loans and has jumped in value compared to both deals by almost ¥30bn, the company says.

The Development Bank of Japan, Mizuho’s UK and European entities, MUFG and SMBC are mandated lead arrangers and bookrunners on the loan. Trafigura says 24 additional banks are participating in the deal, including eight new lenders, but a spokesperson declined to name them. SMBC is the loan’s sustainability co-ordinator.

The samurai loan is made up of a ¥82.95bn three-year credit facility and a ¥40.5bn five-year credit facility. Trafigura says the deal was “substantially oversubscribed”.

It is structured as a sustainability-linked loan using the same targets and KPIs as Trafigura’s recently renewed European revolving credit facility.

The trader will receive a discount or penalty based on its ability to cut operational scope 1 and 2 greenhouse gas emissions; the growth of the company’s renewable power portfolio; and implementation of the Voluntary Principles on Security and Human Rights across Trafigura’s operations.

From 2026, reducing the carbon intensity of Trafigura’s shipping activities, including vessels it charters, will also be included as a target.

Trafigura’s chief financial officer Christophe Salmon says the samurai loan is “an important pillar of Trafigura’s diversified funding model”.

“The transaction is one of the largest in the samurai loan market to date and is the most sizable in the commodities industry. We are very grateful to the 28 banks who participated in this transaction, in particular through increased commitments in the five-year tranche.”