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Trafigura successfully prices USD225 million of notes in the US Private Placement market

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Trafigura Group Pte Ltd., a market leader in the global commodities industry, has announced the pricing of a new US Private Placement transaction, raising USD225 million of financing across seven and ten year tenors.

The transaction is the Company’s seventh in this market following its first issuance in 2006, and is timed to refinance USD110.5 million of upcoming US Private Placement maturities, and has raised USD114.5 million of additional liquidity for the company. The transaction was increased from an initial USD100 million following strong investor demand, with almost two thirds of the total amount raised in the ten year tranche.

The transaction was priced following an in-person roadshow across five cities in the US and, at USD225 million, is Trafigura’s second largest US Private Placement to date. It is also Trafigura’s first US Private Placement without a tranche of five years or less, with investors focus towards longer tenors.

Christophe Salmon, Group Chief Financial Officer for Trafigura, said: “This issuance builds on the solid relationships that we have established with investors in the US private placement market over the last 17 years. It is a very valuable source of long term funding for Trafigura and provides diversification of our access to capital. We are committed to the USPP market and will continue to meet the high transparency requirements of this investor base.”

Mizuho (Mizuho Securities USA LLC) and MUFG (MUFG Securities Americas Inc.) acted as Agents on the transaction which is due to close and fund on 30 March 2023.

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