TRAXYS S.A.R.L. - USD 1,600,000,000 MULTICURRENCY SYNDICATED REVOLVING CREDIT FACILITY

PRESS RELEASE
TRAXYS S.A.R.L.
USD 1,600,000,000 MULTICURRENCY SYNDICATED REVOLVING CREDIT FACILITY
11th July 2024
Traxys Sarl (“Traxys” or the “Company”), a leading global physical trader and merchant in metals and natural resources, is pleased to announce the successful amendment, extension and increase of its flagship multi-currency syndicated revolving credit facility (the “Facility”). The Facility was significantly oversubscribed and was therefore upsized by USD 30mln via accordion with a part of these oversubscriptions. The Facility now stands at a total of USD 1.6bln and 12 banks submitted increased commitments during the book-building and syndication process.
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, Société Générale and UBS Switzerland AG 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. The initial tenor of each tranche is extended by 1 year and amended to add an additional 1-year extension option. In addition, the Facility has USD 345 million accordion feature remaining as well as a swingline sub-limit.
“The success of this annual finance process demonstrates the strong support of Traxys’ banking partners and highlights our robust balance sheet, and the positive outlook for our firm. This Facility is the foundation of our diverse financing portfolio and is complemented by equivalent amounts of flexible transactional bilateral and other working capital finance facilities,” said Todd Hermanson, Traxys’ Group Chief Financial Officer.
Mark Kristoff, Traxys’ Group Chief Executive Officer, added: “We are pleased that Lenders demonstrate such a high level of support for the continued growth of our Company’s diverse and global commodities businesses. This financing ensures Traxys ability to further consolidate our leading position in the world’s critical materials markets. Especially, the strategically important base metals and battery materials sectors, as well as the industrial minerals and ferro and noble alloy businesses. Moreover, we believe that close collaboration with Traxys’ diverse shareholder base will enable Traxys to better serve its customers and suppliers with new solutions to secure their supply and optimize their price exposure in key commodities markets”.
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
Deutsche Bank AG, London Branch
Deutsche Bank Trust Company America
ING Bank N.V., Amsterdam, Lancy / Geneva Branch
Natixis Corporate & Investment Banking
Société Générale
UBS Switzerland AG
Mandated Lead Arrangers
Bank of China, London Branch
Bank of China, Geneva
HSBC Trinkaus & Burkhardt AG
Lead Arrangers
CA Indosuez (Switzerland) SA
DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main
Arrangers
Garanti Bank International N.V.
KfW IPEX-Bank GmbH
MUFG Bank, Ltd.
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 Genève
Banque Cantonale Vaudoise
Banque Internationale De Commerce - BRED (Suisse) S.A.
Banque Internationale à Luxembourg SA
Brown Brothers Harriman & Co.
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:
Traxys Sarl
Alistair Mules
Traxys Group Treasurer
Todd A. Hermanson
Traxys Group CFO