Swiss trading and chartering giant Trafigura has clinched an over-subscribed refinancing to boost liquidity in volatile markets.
The company said it closed new European multi-currency syndicated revolving credit facilities worth $5.295bn.
The refinancing was targeting a total of $4.5bn, but was “very well received by the bank market and closed substantially oversubscribed,” Trafigura added.
Chief financial officer Christophe Salmon said the revolvers are a key pillar of its financial model, designed to give the group sustained access to liquidity and capital, “including during periods of extreme volatility in the global economy and at times of profound geopolitical tensions”.
