Trafigura’s SSD the first of many, says treasurer

Trafigura, one of the world’s largest commodity traders, has closed a Schuldschein issue in a debut that surprised many in the market. The deal shows there is an appetite for unusual credits among some of the market’s investors. Trafigura’s group treasurer told GlobalCapital that this SSD is only the first from his company.
Many were surprised in early January when news filtered out that Trafigura was marketing an SSD alongside a euro bond and revolving credit facility.
“My first thought was, ‘Why?’” said a Schuldschein investor at a European lender. “The initial volume was small and the yield was far higher than ...Already a subscriber? Login