Global trade leader in refined metals inks $800 million loan agreement backed by the German government
The Singapore-incorporated multinational commodity trading company Trafigura, also acknowledged as the global leader in trading refined metals, including aluminium, 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.
Germany's Untied Loan program supports Trafigura's commitment to delivering up to 500,000 tonnes of non-ferrous metals, including aluminium, to Germany over five years.
The Untied Loan program ensures Germany's long-term access to strategic commodities. In exchange for offering cover on the financing, Trafigura has committed to a new long-term agreement to supply strategic commodities. The deal included a review of Trafigura's environmental, social and governance (ESG) policies and performance.
Kostas Bintas, the Co-head of Metals and Minerals at Trafigura, said, “The support of the Untied Loan program has enabled Trafigura to take on a long-term commitment to supply strategic commodities to German industry.”
The construction and automobile industries in Europe use non-ferrous metals, as well as the renewable energy, electronics, and chemical industries.
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