Trafigura returns to euros after long wait

trafigura adobe 575
By Owen Sanderson
28 Jan 2021

Trafigura returned to the bond market in euros this week, having been absent since 2015. The commodities trading giant is diversifying its access to funding and is also producing its debut Schuldschein issue alongside the €400m bond.

The company, which is unrated, issued a €400m five year bond at 3.875%, after starting with talk of 4.25% area, through global coordinator Credit Suisse and bookrunners ING, Société Générale and UniCredit.

This level puts it squarely in high yield territory — Ineos Quattro’s unsecured notes, rated B2/B+/BB-, ...

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