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Trafigura signs German guaranteed US$800m loan agreement

Trafigura signs German guaranteed US$800m loan agreement

(Posted on 26/10/22)

Trafigura, a market leader in the global commodities industry, has entered into a USD800 million five-year loan underwritten and arranged by Societe Generale and syndicated to seven participating banks. The loan is guaranteed by the government of the Federal Republic of Germany acting through the German Export Credit Agency (ECA) Euler Hermes Aktiengesellschaft. The guarantee is provided under Germany’s Untied Loan program to support the commitment by Trafigura to deliver, under a five-year supply agreement, up to 500,000 tonnes of non-ferrous metals into Germany.

The Untied Loan program is a tool to secure the long-term delivery of strategic commodities to Germany. In exchange for offering cover on the financing, Trafigura has committed to a new long term agreement to supply strategic commodities. The agreement included a review of Trafigura’s environmental, social and governance (ESG) policies and performance.

“The support of the Untied Loan program has enabled Trafigura to take on a long term commitment to supply strategic commodities to German industry,” said Kostas Bintas, Trafigura’s Co-head of Metals and Minerals.

Non-ferrous metals are used by Europe’s renewable energy, electronics and chemical industries, as well as suppliers to the construction and car industries.

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