FT: Trafigura’s finance chief warns of commodity industry stress

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Financial Times: Energy market crisis could push smaller operators out of business 

Trafigura bought from Unipec a barge of diesel for ARA loading at a premium of $70 a tonne to the April ICE diesel futures… that is the highest since 2008. Records broken every day (yesterday it was jet fuel). Tanks are emptying and Russian imports slowing #OOTT pic.twitter.com/HyRLdtPfJT

— Ron Bousso (@ronbousso1) March 22, 2022

2/ The yield of Gunvor bond due in ‘26 went up to 16.8%, while Trafigura is close to 10%. Traf has been in talks with KKR and Blackstone to raise equity pic.twitter.com/VzkU3KmgI7

— Gianluca (@Theimmigrant84) March 18, 2022

Unedited press release:

Trafigura Group Pte Ltd closes USD2.3 billion-equivalent liquidity facility

Singapore, 23 March 2022 – Trafigura Group Pte Ltd. (“Trafigura” or the “Company”), a market leader in the global commodities industry, has successfully closed the syndication of its multi-currency revolving credit facility (the “Facility”) totalling USD2.3 billion-equivalent, a significant increase from the initial underwritten amount of USD1.2 billion-equivalent. Mizuho Bank, Ltd., Société Générale, Sumitomo Mitsui Banking Corporation and UniCredit Bank AG acted as Mandated Lead Arrangers, Bookrunners and Underwriters.

Christophe Salmon, Group Chief Financial Officer for Trafigura, said: “We are very grateful to the 12 banks who joined the Facility, in addition to the initial group of four underwriters, to close this facility in record time. This additional liquidity buffer enhances Trafigura’s ability to manage the current unprecedented market conditions, and demonstrates once again strong support from the banking community.”