Trafigura sounds out China with $850m deal
Commodities trader Trafigura launched an $850m facility into syndication on Wednesday. The deal will test Chinese bank demand for offshore loans, as the borrower is meeting lenders in Beijing and Shanghai on its roadshow, as well as in Hong Kong, Singapore and Taipei.
The borrower pursued the same strategy last year when marketing the deal that this new loan will refinance, but since then Chinese regulators have cracked down on lending, reducing appetite from Chinese banks.
"Trafiguras clearly trying to target the PRC banks, but they are short of dollars right now,"
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