Trafigura raises a record USD390 million in the US Private Placement market
Trafigura Group, a global leader in the commodities industry, announced the successful pricing of a new US Private Placement transaction. The placement raised a record USD390 million of financing across four tenors, including for the first time a twelve-year tranche.
Highlights:
- USD390 million raised, Trafigura’s largest USPP to date.
- Strong demand allowed the placement to be increased from the initial USD100 million target.
- Nearly half of allocations were to new investors from the fund management and insurance sectors.
- Two-thirds raised in 10 and 12-year tranches, demonstrating investor confidence.
- Tightest pricing spreads on record for Trafigura in this market.
“The strong demand for this private placement, particularly for the longer-dated maturities, underscores investors’ confidence in Trafigura’s business model and our ability to navigate complex markets,” said Laurent Christophe, Trafigura Group Treasurer. “This successful USD390 million raise, one of the largest by a energy and metals commodities company, reinforces our commitment to the USPP market which remains an important part of Trafigura’s funding strategy, allowing the Group to diversify its investor base and offering stable access to long-term liquidity.”
The transaction represents Trafigura’s eighth in the US private placement market, where it now has over USD1 billion of notes outstanding. The proceeds will be used to refinance USD102 million of US Private Placement maturities, raising USD288 million of additional liquidity for the Company.
