Commodities trader Trafigura has secured a US$235mn syndicated loan agreement with two banks and Abu Dhabi’s export finance institution, aimed at supporting the company’s purchase of UAE-produced commodities such as energy, minerals and metals. The facility is backed by Japan’s SMBC, which coordinated the syndication, and the Commercial Bank of Dubai (CBD). Under the terms…| Global Trade Review (GTR)
Trafigura chief executive Richard Holtum says the commodity trading giant has undertaken a “significant governance and controls project” after suffering a US$1bn loss in a fraud scandal within its Mongolian oil business. Holtum says the review has been overseen by the company’s chief risk officer and chief operating officer, and has examined “what went wrong…| Global Trade Review (GTR)
US President Donald Trump’s unpredictable approach to tariffs is causing major uncertainty across the metals and energy trading markets, as well as undermining longer-term investments, industry insiders say. Trump’s second term has so far been characterised by a raft of tariff-related actions, with levies often announced, delayed or amended with little warning. Tariffs have escalated ...| Global Trade Review (GTR)
Trafigura has closed syndicated European revolving credit facilities (RCFs) totalling more than US$5.6bn, which the commodity trader says will strengthen its ability to respond to market turbulence and volatility. The Singapore-headquartered trader announced today it had extended an existing three-year facility, initially launched in March 2022, by a further year, while also increasing its value ...| Global Trade Review (GTR)