ICBC contributes USD 62.5 million to USD 2.025 billion tranche of USD 5.295 billion dual-tranche syndicated lending facility to Trafigura Pte. Ltd. for debt refinancing and general corporate purposes in 2022 (linked to Record ID#98665, #101851, #101852, #101853, #101854, #101855, #101856, #101857)

Project narrative

On March 3, 2022, a group of 55 banks -- including Bank of China, Agricultural Bank of China, China Construction Bank, and ICBC -- reached financial close on a USD 5.295 billion dual-tranche syndicated lending facility to Trafigura Pte. Ltd. The facility, Trafigura's flagship European multi-currency syndicated revolving credit facilities consists of two tranches: a 365-day USD 2.025 billion revolving credit facility with two 365-day extension options and a 3-year USD 3.270 billion revolving credit facility with two 365-day extension options. The two tranches will be used to refinance the 365-day tranche from Trafigura's 2021 European facility (captured via Record ID#98862, #98863, #98864) and the 3-year (later extended by 1 year) tranche from Trafigura's 2018 European facility (captured via Record ID#98492, #98493, #98494, #98495), respectively. Proceeds were also to be used for general corporate purposes. Trafigura structured the two revolving credit facilities as sustainability-linked loans, un which the interest rates on the facilities are linked to key performance indicators, related to cutting operational greenhouse gas emissions, responsible sourcing of metals, growing Trafigura's renewable power portfolio, and the implementation of the "Voluntary Principles on Security and Human Rights" within Trafigura's operations. Depending on the key performance indicators met, either a penalty of discount the facilities' margins will be applied. Other lending details are unknown. The facility is comprised of two tranches: 1) A USD 3.27 billion, three-year revolving credit facility with an unknown interest rate, which was joined by the following banks (with their contributions in $USD): Abanca ($7.5 million), ABSA Bank ($10 million), AfrAsia Bank ($7.5 million), Agricultural Bank of China ($50 million), Arab Bank Group ($20 million), Banco Sabadell ($12.5 million), Bank of China ($162.5 million), Bank of Montreal ($25 million), Bank of Taiwan ($10 million), Banque Cantonale de Geneve ($7.5 million), Banque Cantonale Vaudoise ($5 million), Barclays ($12.5 million), BofA Securities ($62.5 million), BRED Banque Populaire ($5 million), CaixaBank ($25 million), China Construction Bank ($75 million), Citigroup ($125 million), Commercial Bank of Dubai ($10 million), Commerzbank ($80 million), Commonwealth Bank of Australia ($37.5 million), Credit Agricole Group ($100 million), Credit Suisse ($100 million), DBS Bank ($37.5 million), Deutsche Bank ($100 million), DZ Bank ($15 million), Erste Bank ($15 million), First Commercial Bank ($10 million), Goldman Sachs ($10 million), Habib Bank ($7.5 million), ICBC ($62.5 million), ING Bank ($150 million), JPMorgan ($112.5 million), KfW-IPEX Bank ($25 million), Lloyds Banking Group ($50 million), Mizuho Financial Group ($100 million), MUFG Bank ($75 million), Natixis ($75 million), NBSA ($5 million), Rabobank ($137.5 million), Raiffeisen Banking Group ($17.5 million), Banco Santander ($75 million), Scotiabank ($20 million), Societe Generale ($150 million), Standard Bank ($12.5 million), Standard Chartered Bank ($50 million), Sumitomo Mitsui Banking Corporation ($75 million), Sumitomo Mitsui Trust Holdings ($10 million), TD Securities ($5 million), UBAF ($5 million), UBS, ($100 million), UniCredit ($162.5 million), Zurich Cantonal Bank ($12.5 million), and National Bank of Ras al Khaimah ($10 million). Bank of China's USD 162.5 million contribution to the 3-year RCF is captured via Record ID#98865, Agricultural Bank of China's USD 50 million contribution to the 3-year RCF is captured via Record ID#101851, China Construction Bank's USD 75 million contribution to the 3-year RCF is captured via Record ID#101852, and ICBC's USD 62.5 million contribution to the 3-year RCF is captured via Record ID#101853. 2) A USD 2.025 billion, one-year revolving credit facility with an unknown interest rate, which was joined by the following banks (their contributions in $USD): Abanca ($7.5 million), ABSA Bank ($10 million), AfrAsia Bank ($7.5 million), Agricultural Bank of China ($50 million), Arab Bank Group ($20 million), Banco Sabadell ($12.5 million), Bank of China ($162.5 million), Bank of Montreal ($25 million), Bank of Taiwan ($10 million), Banque Cantonale de Geneve ($7.5 million), Banque Cantonale Vaudoise ($5 million), Barclays ($12.5 million), BofA Securities ($62.5 million), BRED Banque Populaire ($5 million), CaixaBank ($25 million), China Construction Bank ($75 million), Citigroup ($125 million), Commercial Bank of Dubai ($10 million), Commerzbank ($80 million), Commonwealth Bank of Australia ($37.5 million), Credit Agricole Group ($100 million), Credit Suisse ($100 million), DBS Bank ($37.5 million), Deutsche Bank ($100 million), DZ Bank ($15 million), Erste Bank ($15 million), First Commercial Bank ($10 million), Goldman Sachs ($10 million), Habib Bank ($7.5 million), ICBC ($62.5 million), ING Bank ($150 million), JPMorgan ($112.5 million), KfW-IPEX Bank ($25 million), Lloyds Banking Group ($50 million), Mizuho Financial Group ($100 million), MUFG Bank ($75 million), Natixis ($75 million), NBSA ($5 million), Rabobank ($137.5 million), Raiffeisen Banking Group ($17.5 million), Banco Santander ($75 million), Scotiabank ($20 million), Societe Generale ($150 million), Standard Bank ($12.5 million), Standard Chartered Bank ($50 million), Sumitomo Mitsui Banking Corporation ($75 million), Sumitomo Mitsui Trust Holdings ($10 million), TD Securities ($5 million), UBAF ($5 million), UBS ($100 million), UniCredit ($162.5 million), Zurich Cantonal Bank ($12.5 million), and National Bank of Ras al Khaimah ($10 million). Bank of China's USD 162.5 million contribution to the 1-year RCF is captured via Record ID#101854, Agricultural Bank of China's USD 50 million contribution to the 1-year RCF is captured via Record ID#101855, China Construction Bank's USD 75 million contribution to the 1-year RCF is captured via Record ID#101856, and ICBC's USD 62.5 million contribution to the 1-year RCF is captured via Record ID#101857.