Trafigura Trading LLC, a wholly-owned subsidiary of Trafigura Group Pte Ltd successfully renewed its North American Borrowing Base Credit Facility. Despite a strong oversubscription, the company decided to slightly reduce the two year facility from USD3.5 billion to USD3 billion because of a lower financing need in the lower priced commodity environment. The facility supports Trafigura Trading's energy trading, logistics and merchant activities in North America. This includes its crude and condensate supplies from the Eagle Ford and Permian basins and related to its interest in the Buckeye Texas Partners terminal in Corpus Christi, Texas.
Trafigura Trading's North American Chief Financial Officer, Rodney Malcolm, said: "The Trafigura Group is pleased to have had another successful refinancing with the facility being oversubscribed. This allows us to continue to meet the working capital needs of our growing business. The continuing commitment from our banking partners allows us to continue to secure market opportunities and grow our energy-related assets."
Acting as Lead Arrangers and Joint Book-runners were MUFG (also acting as Administrative Agent), Natixis, New York Branch and SG Americas Securities, LLC.
Notes to editors
Founded in 1993, Trafigura is one of the largest physical commodities trading groups in the world. Trafigura sources, stores, transports and delivers a range of raw materials (including oil and refined products and metals and minerals) to clients around the world. The trading business is supported by industrial and financial assets, including 48.8 percent owned global oil products storage and distribution company Puma Energy; global terminals, warehousing and logistics operator Impala Terminals; Trafigura's Mining Group; 50 percent owned DT Group which specialises in logistics and trading; and Galena Asset Management. The Company is owned by over 600 of its almost 5,300 employees who work in offices in 37 countries around the world. Trafigura has achieved substantial growth over the last ten years, growing turnover from USD12 billion in 2003 to USD97.2 billion in 2015. The Group has been connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade. http://www.trafigura.com