Agricultural Bank of China contributes to USD 1.855 billion syndicated sustainability-linked RCF to Trafigura Beheer BV for debt refinancing and general corporate purposes in 2021 (linked to Record ID#97383, #98862, #98864)

Project narrative

On March 18, 2021, a group of 40 banks -- including Bank of China, Agricultural Bank of China, and China Construction Bank -- reached financial close on a USD 5.505 billion syndicated sustainability-linked, multi-currency lending facility to Trafigura Beheer BV to support European operations. The facility consists of two tranches: the extension and amendment of a previous, three-year USD 3.525 billion tranche signed in 2018 (captured via Record ID#98492, #98493, #98494, #98495) and a new, 365-day USD 1.855 billion revolving credit facility, which will be used to refinance the previous one-year tranche of Trafigura's 2020 European facility (captured via Record ID#98500). Proceeds from the two tranches will be used for debt refinancing of the aforementioned loans, alongside general corporate purposes. The facility's interest rate will be tied to Trafigura's performance on multiple environmental and sustainability-based benchmarks. Further lending details are unknown. The rescheduling of the 2018 tranche is captured via Record ID#97383. Bank of China's contribution is captured via Record ID#98862. Agricultural Bank of China's contribution is captured via Record ID#98863. China Construction Bank's contribution is captured via Record ID#98864. Bank of China, ING Bank, SocGen, UniCredit, and Rabobank served as mandated lead arrangers and bookrunners. Natixis and UniCredit served as sustainability coordinators. Other lenders joining include: ABSA Bank, AfrAsia Bank, Agricultural Bank of China, Arab Bank, Banco de Sabadell, Banco Santander, Bank of Montreal, Bank of Nova Scotia, Bank Al Habib, Banque de Commerce et de Placements, Barclays, Caixabank, China Construction Bank, Citigroup, Commercial Bank of Dubai, Commerzbank, Commonwealth Bank of Australia, Credit Agricole CIB, Credit Suisse, DZ Bank, FirstRand Bank, JP Morgan, KfW IPEX-Bank, MUFG, Mizuho Bank, National Bank of Ras Al-Khaimah, Nedbank, Raiffeisen Bank International, Standard Bank of South Africa, Sumitomo Mitsui Trust Bank, Toronto-Dominion Bank, UBS and Union de Banques Arabes et Francaises.