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.
Latest News
Cargill acquires Owensboro Grain Company
(Posted on 05/12/22)Cargill and Owensboro Grain Company, a fifth-generation family-owned soybean processing facility and... Read more
Rio Tinto to strengthen, decarbonise and grow
(Posted on 01/12/22)Rio Tinto is providing an update at its Investor Seminar on progress against its long-term strategy... Read more
BioIron proves successful for low-carbon iron-making
(Posted on 29/11/22)Rio Tinto has proven the effectiveness of its low-carbon iron-making process using ores from its mines... Read more
Rio Tinto, BHP and Fortescue to create safer workplaces
(Posted on 19/11/22)Rio Tinto, BHP and Fortescue are launching an innovative pilot programme aimed at helping to eliminate... Read more
AJ Steel agreement with KEZAD to expand in Abu Dhabi
(Posted on 19/11/22)Leading UAE steel pipe manufacturer and exporter, AJ Steel, has signed an agreement with the integrated... Read more
EU fertilizer industry calls for more comprehensive long-term strategy
(Posted on 13/11/22)Fertilizers Europe has welcomed the recognition of the European Commission that urgent and targeted... Read more
NGFA urge US Congress to prevent rail shutdown
(Posted on 09/11/22)The National Grain and Feed Association (NGFA) in the USA and 192 other members of the Agricultural... Read more
BHP and Rio Tinto to collaborate on new tailings technology
(Posted on 02/11/22)Global miners BHP and Rio Tinto have formed a partnership agreement to accelerate the development of... Read more
Blastr and Cargill Metals MOU for supply of green steel
(Posted on 26/10/22)Cargill’s metals business and Blastr Green Steel AS, a developer of decarbonized steel supply,... Read more
BHP releases Operational Review for quarter ended 30 September
(Posted on 20/10/22)Commenting on BHP’s newly released Operational Review, Chief Executive Officer, Mike Henry said... Read more
