Bank of China contributes to USD 5.725 billion multi-tranche syndicated credit facility to Trafigura Pte. Ltd. for debt refinancing and general corporate purposes in 2018

Project narrative

On March 15, 2018, a group of 52 banks -- including Bank of China, ICBC, China Construction Bank, and Agricultural Bank of China -- reached financial close on a USD 5.725 billion multi-tranche syndicated credit facility to Trafigura Pte. Ltd., a renewal of Trafigura's flagship European multicurrency syndicated revolving credit facility ("ERCF"). The facility consists of two tranches: a USD 2.2 billion 365-day revolving credit facility with two 365-day extension options, and a USD 3.525 billion 3-year revolving credit facility with two 1-year extension options. Proceeds from the facility will be used for general corporate purposes and to refinance maturing tranches of Trafigura's 2016 and 2017 European revolving credit facilities. Other lending details, including interest rates, are unknown. On March 18, 2021, the three-year, USD 3.525 billion RCF tranche was extended by 365 days, while simultaneously increasing the tranche to reach USD 3.65 billion. This extension from the four Chinese banks is captured via projects ID #97383, #110878, #110879, and #110880. BOC's contribution is captured via Record ID#98492. ICBC's contribution is captured via Record ID#98493. CCB's contribution is captured via Record ID#98494. Agricultural Bank of China's contribution is captured via Record ID#98495. A total of 52 banks contributed to the facility. Active mandated lead arrangers and bookrunners were ING, NatWest, Standard Chartered, and UniCredit. Bank of China and Société Générale served as passive mandated lead arrangers and bookrunners. Mandated lead arrangers were Bank of America Merrill Lynch, DBS, Deutsche Bank, Industrial and Commercial Bank of China, and Rabobank. Senior lead arrangers were ABN Amro, Citi, Crédit Agricole, Credit Suisse, JP Morgan, and Natixis. BTMU, China Construction Bank, Commerzbank, Mizuho, and UBS were lead arrangers. Bank of Montreal, Barclays, Commonwealth Bank of Australia, and Lloyds Bank served as arrangers. Co-arrangers were Absa Bank, Agricultural Bank of China, ANZ, Bank of Nova Scotia, Banque Cantonale de Geneve, Banque Cantonale Vaudoise, Banque de Commerce et de Placements, Banque Misr, Banque International de Commerce, CaixaBank, Commercial Bank of Dubai, DZ Bank, Erste Group Bank, Goldman Sachs, Gulf International Bank, Habib Bank, HSH Nordbank, IKB Deutsche Industriebank, KBC Bank, KfW Ipex, Nedbank, Raiffeisen, SMBC, Sumitomo Mitsui Trust Bank, Union de Banques Arabes et Francaises, and Zurcher Kantonalbank.