Trafigura Launches US$4.275bn Loan Refinancing

Commodity trading house Trafigura has launched syndication of a US$4.275bn multicurrency revolving credit facility to refinance its existing US$5.3bn flagship European facility that was signed in March 2015.

The loan comprises a 364-day tranche and a three-year tranche.

A London bank meeting will be held on January 20 and the financing is expected to close in late March, the company said on Thursday.

Active bookrunners on the facility are Lloyds Bank, Soceiete Generale and Unicredit Bank, while Rabobank, ING Bank and Royal Bank of Scotland are non-active bookrunners.

The borrower's previous facility comprised a US$1.87bn 364-day facility with two 364-day extension options, and a US$3.43bn three-year facility with two one-year extension options.

Active bookrunners on that transaction were Rabobank, ING Bank, Societe Generale (SGE.SG) and Royal Bank of Scotland, while non-active bookrunners were Lloyds Bank, Standard Chartered Bank, and UniCredit.

The loan closed oversubscribed in syndication with commitments from a group of 51 banks, and was increased from a launch amount of US$4.25bn.

By Alasdair Reilly