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Overview

China Eximbank contributes USD 52.11 million to USD 469 million tranche of USD 2.4 billion syndicated lending facility to Trafigura Pte. Ltd. for debt refinancing and general corporate purposes in 2022 (linked to Record ID#98866, #98867, #98868, #98869, #101882, #101883, #101884, #101885, #101886, #101887, #101888, #101889)

Commitments (Constant USD, 2023)$49,239,736
Commitment Year•2022Country of Activity•SingaporeDirect Recipient Country of Incorporation•SingaporeSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Oct 25, 2022
Last repayment (originally scheduled)
Oct 24, 2025

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

  • Export-Import Bank of China (China Eximbank)

Cofinancing agencies

Private Sector

  • DBS Bank Ltd.
  • ING Bank N.V.
  • Standard Chartered Bank PLC
  • Sumitomo Mitsui Banking Corporation (SMBC)

State-owned Commercial Banks

  • Agricultural Bank of China (ABC)
  • China Bank of Communications (BoCom or BoComm)
  • China Construction Bank Corporation (CCB)

Receiving agencies

Private Sector

  • Trafigura Group Pte. Ltd.

Loan description

Agricultural Bank of China, Bank of Communications, China Construction Bank, and China Eximbank contributions to USD 2.4 billion syndicated loan facility to Trafigura Pte. Ltd. for debt refinancing and general corporate purposes (2022)

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

On October 25, 2022, a lending syndicate -- including Agricultural Bank of China, Bank of Communications, China Construction Bank, and China Eximbank -- reached financial close on a USD 2.4 billion syndicated lending facility to Trafigura Pte. Ltd. The facility consisted of a 365-day USD 685 million revolving credit facility, a 3-year USD 496 million term loan facility, and a USD 1.217 billion-equivalent, RMB-denominated revolving credit facility. Proceeds from the 1-year USD and RMB tranches were used to refinance the maturing 1-year USD and RMB tranches from Trafigura's 2021 facilities (captured via Record ID#98701, #98702, #98703), respectively. Proceeds from the 3-year tranche were used to refinance the maturing 3-year term loan from Trafigura's 2018 facilities (captured via Record ID#98476, #98477, #98478). Proceeds from all three tranches were also used for general corporate purposes. Other lending terms are unknown. All four Chinese banks joined all three tranches, with the breakdown of the three tranches as follows: 1) The one-year USD 1.217 billion term loan had contributions from the following banks (with USD contributions following): China Eximbank ($135.22 million), Agricultural Bank of China ($135.22 million), Bank of Communications ($135.22 million), China Construction Bank ($135.22 million), DBS Bank ($135.22 million), ING Bank ($135.22 million), multiple unknown banks ($135.22 million), Standard Chartered Bank ($135.22 million), and Sumitomo Mitsui Banking Corporation ($135.22 million). Agricultural Bank of China's contribution is captured via Record ID#98866. BoComm's contribution is captured via Record ID#98867. China Construction Bank's contribution is captured via Record ID#98868. China Eximbank's contribution is captured via Record ID#98869. 2) The one-year USD 685 million revolving credit facility had contributions from the following banks (with USD contributions following): China Eximbank ($76.11 million), Agricultural Bank of China ($76.11 million), Bank of Communications ($76.11 million), China Construction Bank ($76.11 million), DBS Bank ($76.11 million), ING Bank ($76.11 million), multiple unknown banks ($76.11 million), Standard Chartered Bank ($76.11 million), and Sumitomo Mitsui Banking Corporation ($76.11 million). Agricultural Bank of China's contribution is captured via Record ID#101882. BoComm's contribution is captured via Record ID#101883. China Construction Bank's contribution is captured via Record ID#101884. China Eximbank's contribution is captured via Record ID#101885. 3) The three-year USD 469 million term loan had contributions from the following banks (with USD contributions following): China Eximbank ($52.11 million), Agricultural Bank of China ($52.11 million), Bank of Communications ($52.11 million), China Construction Bank ($52.11 million), DBS Bank ($52.11 million), ING Bank ($52.11 million), multiple unknown banks ($52.11 million), Standard Chartered Bank ($52.11 million), and Sumitomo Mitsui Banking Corporation ($52.11 million). Agricultural Bank of China's contribution is captured via Record ID#101886. BoComm's contribution is captured via Record ID#101887. China Construction Bank's contribution is captured via Record ID#101888. China Eximbank's contribution is captured via Record ID#101889.