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Overview

Bank of China contributes to USD 1.9 billion syndicated revolving credit facility to Trafigura Pte. Ltd. for debt refinancing the European facilities and general corporate purposes in 2020

Commitment Year•2020Country of Activity•NetherlandsDirect Recipient Country of Incorporation•SingaporeSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Mar 26, 2020
Last repayment (originally scheduled)
Mar 26, 2021

Stakeholders

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

Funding agencies

State-owned Commercial Banks

  • Bank of China (BOC)

Cofinancing agencies

Private Sector

  • Coöperatieve Rabobank U.A. (Rabobank)
  • ING Bank N.V.
  • Société Générale Corporate and Investment Banking (SGCIB)
  • UniCredit Bank AG

Receiving agencies

Private Sector

  • Trafigura Group Pte. Ltd.

Loan description

Bank of China contributes to USD 1.9 billion syndicated revolving credit facility to Trafigura Pte. Ltd. for debt refinancing and general corporate purposes

Interest type•UnknownMaturity•1 years

Narrative

Full Description

Project narrative

On March 26, 2020, a group of banks -- including Bank of China -- reached financial close on a USD 1.9 billion syndicated revolving credit facility to Trafigura Pte. Ltd. The facility, Trafigura's flagship European financing package, has a 365-day maturity and will be used to refinance Trafigura's previous 2019 European RCF, as well as for general corporate purposes. The facility also extended a three-year tranche of a previous Trafigura facility. The total number of participants to the syndicate is unknown. Bank of China, ING Bank, and UniCredit Bank served as mandated lead arrangers and active bookrunners. Rabobank and Société Générale Corporate & Investment Banking served as mandated lead arrangers and passive bookrunners.

Staff comments

1. Previous iterations of Trafigura's European RCF have had a significant number of lenders participate in the facilities. Given the absence of information on participants in the facility, the transaction field has been left blank to avoid artificially inflating aggregates through the use of the equal contribution assumption with only five lenders.