Trafigura closes US$400 million revolving credit facilities backed by US EXIM
Published by Jessica Casey,
Editor
LNG Industry,
Trafigura Group Pte Ltd, a market leader in the global commodities industry, has successfully entered into two revolving credit facilities, for a total combined amount of US$400 million, with insurance from the Export-Import Bank of the United States (US EXIM). The facilities will exclusively be used by the company to purchase LNG cargoes from US exporters for supply to customers primarily in Europe, providing energy security through replacement of Russian gas due to the war in Ukraine.
The signing of the agreements follows approval by the US EXIM Board of Directors of two financial institution buyer credit (FIBC) policies issued to two financial institutions, including Citibank, for short-term facilities being extended to Trafigura.
Christophe Salmon, Trafigura’s Group Chief Financial Officer, said: “We’re delighted to have successfully closed the first LNG-based facilities backed by US EXIM’s FIBC insurance policy, which supports American jobs by facilitating US exports.”
Citibank, N.A. acted as sole arranger with Citibank, N.A., London Branch as ECA agent and lender for one of the facilities.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/06102023/trafigura-closes-us400-million-revolving-credit-facilities-backed-by-us-exim/
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