Trafigura Gets $400 Million Loan Facility Supported By US

Commodity trader Trafigura on Wednesday said it has gotten two rotating credit facilities totalling $400 million, upheld by protection from the Export-Import Bank of the US.

The funds will be utilized to purchase LNG  cargoes from U.S. exporters and supply to clients mostly in Europe, giving energy security by subbing Russian gas because of the conflict in Ukraine, the organization said.

The arrangements were signed after the U.S. EXIM Board of Directors endorsed two FIBC strategies for momentary facilities given to Trafigura, it said.

“We’re more than happy to have effectively shut the main LNG-based facilities upheld by US EXIM’s FIBC insurance policy, which upholds American positions by working with U.S. exports,” said Christophe Salmon, Trafigura’s CFO.