PRESS RELEASE

  TRAXYS S.A.R.L.

USD 1,570,000,000 MULTICURRENCY SYNDICATED REVOLVING CREDIT FACILITY      

27th June 2023

Traxys Sarl (“Traxys” or the “Company”), a leading global physical trader and merchant in metals and natural resources, is pleased to announce the successful extension of its flagship multi-currency syndicated revolving credit facility for an amount of USD 1.570 billion (the “Facility”). In connection with the extension, approved by all lenders, all 24 syndicate banks consented to the previously announced acquisition of 100% of the ownership interest in the Company by Traxys’ management, together with other investors including Optiver, a leading global market-maker. 

The Facility was arranged by Coöperatieve Rabobank U.A., DBS Bank Ltd., Deutsche Bank AG, Amsterdam Branch, ING Bank N.V., Natixis Corporate & Investment Banking and Société Générale as Active Bookrunning Mandated Lead Arrangers (“ABMLAs”).

The Facility is structured in four tranches: (i) a 3-year committed borrowing base tranche, (ii) a 1-year committed borrowing base tranche, (iii) a 1-year uncommitted borrowing base tranche, and (vi) a 1 year committed unsecured tranche. Each tranche includes a one-year extension option. In addition, the Facility has a USD 375 million accordion feature as well as a swingline sub-limit.

“The success of the transaction demonstrates once again the strong support of Traxys’ banking partners and highlights the robust capital structure and positive outlook for our firm. This Facility represents the cornerstone of our diverse financing portfolio and is further complemented by a similar amount of flexible transactional bilateral and other working capital finance facilities. Additionally, the new ownership structure strengthens Traxys' global leadership position in the supply chain of energy transition metals.” said Todd Hermanson, Traxys’ Group Chief Financial Officer.

Mark Kristoff, Traxys’ Group Chief Executive Officer, added “We are glad that Lenders strongly support the continued growth of our Company’s diverse and global commodities businesses. The Facility will ensure Traxys further consolidates our leading position in the world’s strategically important base metals and battery materials markets as well as the industrial minerals and ferro and noble alloy businesses”.

Traxys was advised by Simmons & Simmons and Redbridge Debt & Treasury Advisory, while the banks were advised by Clifford Chance.

The banks participating in the Facility are as follows:

Mandated Lead Arrangers and Bookrunners:
Coöperatieve Rabobank U.A.
DBS Bank Ltd.
Deutsche Bank AG, Amsterdam Branch
ING Bank N.V. 
Natixis Corporate & Investment Banking 
Société Générale

Mandated Lead Arrangers
Credit Suisse (Switzerland) Ltd.
HSBC Trinkaus & Burkhardt AG 

Lead Arrangers
Bank of China, London Branch
Bank of China, Geneva
CA Indosuez (Switzerland) SA
UBS Switzerland AG

Arrangers
DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main
Garanti Bank International N.V.
KfW IPEX-Bank GmbH
Raiffeisen Bank International AG
Wells Fargo Bank, N.A.

Co-Arrangers
Absa Bank Limited (acting through its Corporate and Investment Banking division)
Banque Cantonale de Gèneve
Banque Cantonale Vaudoise
Banque Internationale De Commerce - BRED (Suisse) S.A.
Banque Internationale à Luxembourg SA
Brown Brothers Harriman & Co.
MUFG Bank, Ltd.
Nedbank Limited, London Branch

About Traxys

Traxys is a physical commodity trader and merchant in the metals and natural resources sectors. Its logistics, marketing, distribution, supply chain management, and trading activities are conducted by over 450 employees in over 20 offices worldwide, and its annual turnover is in excess of USD 10 billion. Headquartered in Luxembourg, Traxys is engaged in sourcing, trading, marketing, and distributing non-ferrous metals, ferro-alloys, minerals, industrial raw materials, and energy. 

The Group serves a broad base of industrial customers and offers a full range of commercial and financial services. Traxys is committed to the highest internationally recognized principles for responsible business conduct, and to ensuring that its operations are equitable, sustainable, and transparent. 

Traxys premises its practices on environmental, social, and governance (ESG) standards that enable Traxys to set a leading example for the responsible sourcing and trading of metals and minerals.

To learn more about Traxys, go to: www.traxys.com.

Press Contacts for Traxys Sarl

Alistair Mules - Traxys Group Treasurer - Tel: + 352 4599 99356

Todd A. Hermanson - Traxys Group CFO - Tel: + 1 212 918 8056