Commodity trading giant Trafigura has signed bumper deals in Europe and Japan with a combined value of well over US$6bn.
A multi-currency group of revolving credit facilities (RCFs) was signed in Europe, totalling US$5.725bn. Launched at US$4.5bn, bank interest allowed Trafigura to scale up the amount significantly.
It comprises a US$2.2bn one-year RCF, with two one-year extension options, and a US$3.535bn three-year RCF with two one-year extension options. It will be used to refinance a three-year facility, signed last year, worth US$2.27bn, and a three-year US$3.25bn tranche signed in 2016, as well as for general corporate purposes.
Meanwhile, the company secured a ¥72.64bn (US$682mn) term loan in Japan, supported by 19 Japanese banks. It refinances a 2016 facility. The Bank of Tokyo-Mitsubishi UFJ (BTMU), Mizuho and SMBC acted as bookrunners and mandated lead arrangers for the samurai loan.
The full list of participating banks for the European facilities is:
Active MLAs and bookrunners: ING, NatWest, Standard Chartered, UniCredit
Passive MLAs and bookrunners: Bank of China, Société Générale
MLAs: Bank of America Merrill Lynch, DBS, Deutsche Bank, Industrial and Commercial Bank of China, Rabobank
Senior lead arrangers: ABN Amro, Citi, Crédit Agricole, Credit Suisse, JP Morgan, Natixis
Lead arrangers: BTMU, China Construction Bank, Commerzbank, Mizuho, UBS
Arrangers: Bank of Montreal, Barclays, Commonwealth Bank of Australia, Lloyds Bank
Co-arrangers: Absa Bank, Agricultural Bank of China, ANZ, Bank of Nova Scotia, Banque Cantonale de Geneve, Banque Cantonale Vaudoise, Banque de Commerce et de Placements, Banque Misr, Banque International de Commerce, CaixaBank, Commercial Bank of Dubai, DZ Bank, Erste Group Bank, Goldman Sachs, Gulf International Bank, Habib Bank, HSH Nordbank, IKB Deutsche Industriebank, KBC Bank, KfW Ipex, Nedbank, Raiffeisen, SMBC, Sumitomo Mitsui Trust Bank, Union de Banques Arabes et Francaises, Zurcher Kantonalbank
Trafigura CFO, Christophe Salmon, says: “We simultaneously re-financed two core credit facilities of the group and this was achieved at tighter pricing levels and with the support of a larger and more diverse bank group. We have demonstrated year after year that we are able to deliver profitable and sustained growth. We are grateful for the support that the banking community has shown to Trafigura once again and we are pleased to welcome new banks to the facilities.”