![]() This renewed SLL structure includes five KPIs, with the progress towards each target evaluated on an annual basis and verified by a third-party expert. The SLL are linked to key performance indicators (“KPIs”) to improve Trafigura’s sustainability performance, aligned with material issues for its business. In line with the last two years, Trafigura structured these facilities as sustainability-linked loans (“SLL”). In addition, the company decided to exercise the first extension option available on its 3-year ERCF, extending the facility by 365 days to maintain a 3-year tenor whilst simultaneously increasing the size of this tranche by $250 million. The 365-day ERCF will be used to refinance the maturing 365-day facility dated 2 March 2022, as well as for general corporate purposes. We are very grateful to the 54 banks who joined the facility and are supporting our strong development trajectory.” The resilience and effectiveness of our funding model has proved its strength, particularly when commodity markets have been exceptionally disrupted. We have increased our access to liquidity over the last year to manage the impact of higher volatility in global markets. The new 365-day ERCF, initially launched at $1.5 billion, was well received by the bank market and closed substantially oversubscribed.Ĭhristophe Salmon, Trafigura’s Group chief financial officer said, “We have successfully refinanced our flagship European revolving credit facility which is a key pillar of our financial model, designed to give us sustained access to liquidity and capital. (“Trafigura”), announced the closing of its new 365-day European multi-currency syndicated revolving credit facilities (the “365-day ERCF”) totalling $1.9 billion, as well as the extension and increase of its $3.5 billion 3-year facility (“3-year ERCF”).
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