Traxys out to market as Petroplus readies launch

Belgian metals trader Traxys is in the market with a $750m secured revolver, which will refinance a borrowing base facility from 2006. The loan is set to be followed shortly by the launch of general syndication for Dutch oil refiner Petroplus’s $900m facility as the flow of deals starts to pick again ahead of September.

  • 21 Aug 2009
Both facilities are structured as borrowing base facilities, in which the drawn revolver is secured against the current value of the assets being financed, said bankers close to the deals. Commodity traders dominated the first half of 2009 with a steady stream of successful refinancings, which Traxys and ...

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