Trafigura Trading LLC, a wholly-owned subsidiary of Trafigura Group Pte Ltd successfully renewed its North American Borrowing Base Credit Facility. Despite a strong oversubscription the company decided to slightly reduce the two year facility from USD3.5 billion to USD3 billion because of a lower financing need in the lower priced commodity environment.
The facility supports Trafigura Trading’s energy trading, logistics and merchant activities in North America. This includes its crude and condensate supplies from the Eagle Ford and Permian basins and related to its interest in the Buckeye Texas Partners terminal in Corpus Christi, Texas.
Trafigura Trading’s North American Chief Financial Officer, Rodney Malcolm, said: “The Trafigura Group is pleased to have had another successful refinancing with the facility being oversubscribed. This allows us to continue to meet the working capital needs of our growing business. The continuing commitment from our banking partners allows us to continue to secure market opportunities and grow our energy-related assets.”
Acting as Lead Arrangers and Joint Book-runners were MUFG (also acting as Administrative Agent), Natixis, New York Branch and SG Americas Securities, LLC.