Trafigura ABS issuance to remain rare despite increased reach

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By Will Caiger-Smith
30 Oct 2014

Commodities trading and logistics firm Trafigura Group found demand in both the US and Europe for its third trade receivables ABS, which settled this week. But despite attracting six new investors to the rare asset class, Trafigura’s issuance is likely to remain restrained, the firm’s global head of corporate finance told GlobalCapital.

The deal, which included six new investors, was issued through Trafigura Securitization Finance, the largest trade receivables securitization programme in Europe. Royal Bank of Scotland and Société Générale were joint leads.

The $300m deal was “significantly oversubscribed” according to a statement from Trafigura. The $279m triple-A notes were ...

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