Oil Trader Trafigura Wins Better Rates on $5.5 Billion Financing
- Commodity trader signs $5.1 billion revolving credit facility
- Trafigura signs $413 million Samurai loan with Japanese banks
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Trafigura Group Pte. lowered its borrowing rate as the commodity trader raised $5.5 billion in bank financing amid record industry profits from oil trading.
A European revolving credit facility totaled $5.1 billion, including a one-year tranche for $1.91 billion and a three-year for $3.19 billion, the Singapore-based company said Thursday in a statement. Trafigura, which has major trading operations in Geneva, also closed a three-year 46 billion-yen ($413 million) loan, almost double the size of its previous Samurai credit in 2014.