Louis Dreyfus signs, avoids looming dollar funding fears
Commodities trading firm Louis Dreyfus increased a three-year facility from a planned $600m to $800m before signing the deal early this week. But bankers close to the transaction say that commodities trading firms could face challenges accessing bank funding in the new year.
These companies have traditionally held the majority of their loan facilities in US dollars, a currency that banks have faced difficulty when accessing since September.
"This is not an easy sector to fund," said a senior loans banker in London. "There will be an issue next year, and
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