Trafigura has closed US$3.4bn in financing facilities, including leading roles for Chinese lenders.
The global commodity trader says the financing was oversubscribed by a group of 43 participating banks. Six new lenders joined the facilities, but a Trafigura spokesperson declined to identify them.
The package consists of a 365-day US$1.1bn syndicated revolving credit facility, a one-year renminbi term loan worth US$1.1bn, and a three-year US$1.2bn term loan.
The revolving credit facility and term loans largely refinance maturing tranches of previous transactions closed in 2022 and 2024, Trafigura says, and will be used to finance its activities.
A spokesperson for the trader says the facilities remain structured as sustainability-linked loans, meaning Trafigura receives cheaper rates in return for meeting sustainability targets.
The mandated lead arrangers and bookrunners on the deal were Agricultural Bank of China, Bank of Communications, China Citic Bank, China Construction Bank, DBS, First Abu Dhabi Bank, Industrial and Commercial Bank of China, Oversea-Chinese Banking Corporation, Qatar National Bank and Standard Chartered.
Standard Chartered also acted as global coordinator of the transaction, and DBS and First Abu Dhabi Bank as sustainability coordinators.
As in the 2024 deal, the renminbi syndication was led by China Merchants Bank and the Export-Import Bank of China as mandated lead arrangers and bookrunners, joined this year by the Postal Savings Bank of China.
Trafigura group chief financial officer Stephan Jansma says the transactions have secured an additional US$800mn in “additional liquidity”.
“We are grateful for the continued strong support from banking partners across Asia and the Middle East, with strong participation from Chinese institutions,” Jansma says.
“This transaction underscores the confidence lenders place in the strength of our balance sheet and financial performance, and ensures we are well positioned to support our customers across all market conditions.”
