Trafigura Debt

On the other side of the hedge – the long side – Trafigura had fair value gains of $1. Trafigura needs to maintain a healthy level of equity as a guarantee against debt with its bank lenders. 9 billion purchase of Indian refiner Essar Oil on Monday, giving the companies a foothold in a country. Trafigura, which reported in December an annual profit of $1. , Limited is a dormant company incorporated on 11 May 2017 with the registered office located in Kenilworth, Warwickshire. These comprise a 365-day US dollar-denominated revolving credit facility worth US$1. Paid a fair price for Essar Oil: Raoul Bajaj of Trafigura India One of the stakeholders in the Essar Oil deal - Trafigura, says it has unlocked a significant value with this deal. Jan 20, 2016. The bigget foreign acquisition seen in India came in the form of Essar-Rosneft deal today. The Securities will be quoted and traded in Euro. At least on the surface, it appears that Trafigura, which is as reliant on the ups and down of commodity trading as Glencore, is far more levered, and exposed, to any commodity crush than the Swiss giant. The fallacy is that Trafigura treats it as equity instead of debt and the way that they could temporarily double their 2017 interim results’ retained earnings, for a fee (way above Trafigura’s equity cost/return)1. A conclusion to the sale would help Essar Group, which has been grappling with debt after an $18 billion spending spree, generate funds to repay lenders. Australian developer Red River has finalised off-take agreements with global commodities trader Trafigura for zinc and lead concentrate production over the first three years of its near-production Thalanga project in N Qld. View news feed in news about economy for 15 June from UNIAN Information Agency. See the complete profile on LinkedIn and discover Dimitris’ connections and jobs at similar companies. Reuters reported that Russian-backed Indian refiner Nayara Energy is set to secure its biggest fuel-backed loan, a USD 1. This is the first of Chambers’ Practice Guides to cover the global debt and equity capital markets and provides a comprehensive and practical route map through some pretty complicated territories. When they finance Trafigura, banks and bondholders probably derive comfort from the valuation of Trafigura’s assets, more than its cash flows. The Facilities were oversubscribed and upsized from their initial launch amount of USD1. 6 billion in the first half from $6 billion as cash and cash equivalents fell, according to the report. Trafigura Derivatives Limited is an active company incorporated on 26 August 1998 with the registered office located in London, Greater London. 5% stake in Porto Sudeste, an iron ore export terminal in Brazil, Iceberg, headed by Arnaud Vagner, said Wednesday in a. 5% stake in Frontline valued at $128 million, and will receive a cash payment of between $538 million and $547 million, the companies said on. According to a recent government of Zimbabwe strategy paper, the external debt is US$7. Jan 20, 2016. Its adjusted net debt - debt less cash and inventories - stands at $6 billion. The Team has global responsibility for M&A activities, debt structuring, repackaging and greenfield projects. 50 billion-equivalent, with 28 banks participating in the. Trafigura needs to maintain a healthy debt-to-equity ratio as a guarantee for its bank lenders. Standard&Poor's Ratings Services has assigned preliminary credit ratings to Trafigura Securitisation Finance PLC's (TSF) $250 million asset-backed floating-rate series 2012-1 notes. Can Japan burn all their debt? Fantastic interview with Watch the interview in full (and more) on Real Vision. 9bn package in September 2017. 6, according to a statement on Oct. SINGAPOREAN global commodities firm, Trafigura Group, has agreed to bail out the debt-ridden and broke Zimbabwe government with US$1,1 billion to pay off the World Bank's arrears, the Zimbabwe Independent has established. 5% stake in Porto Sudeste, an iron ore export terminal in Brazil, Iceberg, headed by Arnaud Vagner, said Wednesday in a. 9b deal for India’s Essar Oil. Its 'adjusted total debt' stood at US$8. Trafigura adjusted debt (USD Million) 0 4,000 4,000 1,000 2,000 3,000 6,000 7,000 8,000 3,256 5,331 7,264 4,180 5,304 5,557 2012 2013 2014 Adjusted to tal debt Group equity (inc. Trafigura has applied with U. ↑ Trafigura found guilty of exporting toxic waste, BBC News Online, 13 July 2010. "However, any enforcement by Trafigura effecting a share sale of Nyrstar Port Pirie Pty Ltd would require the state's consent to avoid the acceleration of the debt related to the Nyrstar Port. So Trafigura probably want to hire these grads so they have a consistent pipeline of talent for deal desk/operators and market analyst, and select some highly exceptional ones to become trader. 4 lakh crore, pending debt to be cleared within two quarters: Prashant Ruia. Asa result of all these activities, our ratio of adjusted debt to net equity fell to 1. Trafigura is overstating the value of debt securities related to its 49. 5%PerSec R and the ISIN code is XS2033327854. The LNG portion of the gains was $646 million. Debt-laden European zinc producer Nyrstar (EBR:NYR) said Monday it plans to raise up to $296 million (€275m) through a share offering to pay down debt and has appointed bankers to explore a. International trader Trafigura licensed to supply gas to Ukraine. HARARE – Sakunda Private Limited – a fully-integrated energy supplier that has grown to be the biggest fuel trader with stocks in excess of 200 million litres – is changing its name to Trafigura Zimbabwe. “But by 2010/2011 we had accumulated a debt of $3. Banks closely monitor the performance of Trafigura's assets as its debts stand at $33 billion and assets serve as the key metric in lenders' debt covenants. The firm has struggled with keeping a cap on its debt but managed to hit its targeted ratio of below 1. The cash boost will also help the trading firm reduce its debt profile as the end of its financial year on Sept. MUMBAI: Russian oil major Rosneft, oil trader Trafigura and Russian fund UCP closed their $12. The privately held company's gross margin. Trafigura is joining forces with shipping firms Frontline and Golden Ocean to supply marine fuel ahead of a shakeup in regulation which could disrupt delivery and cause prices to spike. has decided to create a commodity petrochemical trading business, with a focus on bulk liquid chemicals, for which it has entered into a joint venture agreement with senior executives from the petrochemical trading industry. Trafigura profits drop 50% on sting from oil markets. We owe him an enormous debt of gratitude for a career full of achievement and entrepreneurial endeavour, energy, inspirational leadership, generosity of spirit, humility and humor. The LNG portion of the gains was $646 million. Trafigura, which has major operations in Geneva and Singapore, said it will retain other funds, including its private equity fund focused on debt and equity of mining companies. Trafigura experienced significant growth over the past decade. Number of Acquisitions 1. 9b deal for India’s Essar Oil. Banks closely monitor the performance of Trafigura’s assets as its debts stand at $33 billion and assets serve as the key metric in lenders’ debt covenants. By Josephine Mason. 35x at year-end from 1. With bank regulatory capital constraints tightening, serial ABS issuer Trafigura has closed its first inventory-backed securitisation in a bid to boost its non-bank lending pool. This means the matter has been moved to a new date that’s to be identified. Trafigura has high debt levels relative to rival trading houses in terms of the net debt to earnings before interest, tax depreciation and amortisation (Ebitda) metric. UL] over the restructuring of the. The short seller, which targeted Noble Group previously, alleges that Trafigura “ignores economic reality to aggressively overvalue hundreds of millions in debt securities issued by an associate” Piraeus Bank, Greece largest lender, sold EUR 400 million of subordinated debt with a 10 years maturity, bearing a 9. BMA and Tauil & Chequer in Queiroz Galvão metro debt restructure Pinheiro Neto and Lefosse in glass company issuance Enel makes landmark US$3 billion capital increase. After the closing of both transactions, which is expected before Sept. At least on the surface, it appears that Trafigura, which is as reliant on the ups and down of commodity trading as Glencore, is far more levered, and. "Trafigura Group is aware of reports in the Zimbabwean media suggesting the company has provided significant financing in support of the Zimbabwean government's effort to repay debt arrears to the World Bank and the African Development Bank," said McDoolley-Aimone. Trafigura Limited employs 20-49 people. Trafigura, rival Glencore Plc and local trader Orion Oil Ltd lent Congo about $2 billion between 2015 and 2016 using so-called pre-export finance deals, in which traders advance cash in return for future oil cargoes. Trafigura needs to maintain a healthy debt-to-equity ratio as a guarantee for its bank lenders. We develop new outlets for condensates, using Trafigura's diverse customer base that includes refineries, splitters and petrochemical facilities. Trafigura to face off with Nyrstar bondholders as debt deadline looms [CORRECTED] Trafigura is set for crunch talks with holders of Nyrstar bonds and the company's bankers, as the world's largest global zinc producer faces €340 million ($385 million) of looming debt repayments and a crumbling share price. (II) The short name of the Securities is Trafigura 7. Trafigura said the bond represented. Trafigura AG is a wholly owned subsidiary of Trafigura Beheer BV. At least on the surface, it appears that Trafigura, which is as reliant on the ups and down of commodity trading as Glencore, is far more levered, and exposed, to any commodity crush than the Swiss giant. In February, market sources said Trafigura helped Rosneft to raise short-term financing, which is not forbidden by sanctions. 9bn package in September 2017. BREAKING: BP, Vitol, Totsa, Gunvor, Trafigura, Sahara, 9 others win new NNPC oil, petroleum products deal On August 18, 2019 7:51 am In Business , News by vanguard By Udeme Akpan. The short seller, which targeted Noble Group previously, alleges that Trafigura “ignores economic reality to aggressively overvalue hundreds of millions in debt securities issued by an associate” Piraeus Bank, Greece largest lender, sold EUR 400 million of subordinated debt with a 10 years maturity, bearing a 9. James advises arrangers, sponsors, issuers and investors on securitisations, including collateralised loan obligations, consumer asset-backed securities, residential mortgage-backed securities and esoteric asset classes, such as commodities, telco receivables and tax receivables, and provides advice on risk retention and other related regulatory matters. It is classified as Subsidiary of Foreign Company and is registered at Registrar of Companies, Delhi. Following a restructuring of Nyrstar's debt in deals with creditors to stave off bankruptcy, Trafigura will control 98 per cent of the company's shares. In the end, Trafigura was able to pay the sum owed to NB. In 2017, it sold Essar Oil to the Rosneft- Trafigura consortium for Rs 86,000 crore ($12. Its adjusted net debt - debt less cash and inventories - stands at US$6 billion. 7 million shares at $29 a share. Puma Energy is selling its business in Paraguay to a group controlled by Trafigura for $200 million. By Gleb Gorodyankin and Dmitry Zhdannikov LONDON (Reuters) - Rosneft is raising money from Swiss trader Trafigura days before it must repay a $7 billion debt and squeezed by sanctions, industry sources said, seeking new options after a foray into the bond market fuelled a devaluation of the rouble. Commodity trader Trafigura has accumulated a massive debt of $33b and has recorded a negative operating cash flow of $7. Would you guess our friends Glencore & Trafigura are the 2 biggest debtors?pic debts in commodities as prepayment deals & don't count them as debt for the nations. On the other side of the hedge—the long side—Trafigura had fair value gains of $1. The IMF has urged the authorities to forward the informations related to the pre-financed oil deals with Gunvor (750M), Glencore (X$, Trafigura XX$, provide a breakout of the loans, reflecting the country’s total debt pledged on oil between 2014 and 2017 in Pointe Noire… and how the budget was spent. Trafigura acquires majority stake in Nyrstar operating business Jones Day advised Trafigura Group Pte. On the other side of the hedge – the long side – Trafigura had fair value gains of $1. 3 million (bpd) last year. At least on the surface, it appears that Trafigura, which is as reliant on the ups and down of commodity trading as Glencore, is far more levered, and. Sales and Trading. details of Debt deals, Programmes, Stand alone debt, Series, Tranches. Source: Mutsvangwa blames ‘Queen Bee’ for high fuel prices – The Standard April 14, 2019 By Joseph Cotterill and David Sheppard. Moody's assigns provisional ratings to 4 Classes of ABS to be issued by Trafigura Securitisation Finance Plc 13 Jun 2017 Milan, June 13, 2017 -- Moody's Investors Service has assigned the following provisional ratings to four Classes of asset-backed notes to be issued by Trafigura Securitisation Finance Plc:. One of the world’s biggest commodity traders, Trafigura, has signed a long-term agreement to transport 300,000 bpd from the Permian Basin to the port of Corpus Christi in Texas, via a pipeline. Trafigura does not disclose how many debt securities the company holds and the ratio of PSVM11/FPOR11. Jun 20, 2019 · Banks closely monitor the performance of Trafigura's assets as its debts stand at $33 billion and assets serve as the key metric in lenders' debt covenants. "A German national, Daniel has been amongst the founding members of Trafigura in 1993 and has remained closely involved in the company's developments since then. Trafigura called an end on Monday to its aggressive expansion into infrastructure, as the commodity house aims to cut debt and focus on its core oil-trading business. Following a restructuring of Nyrstar's debt in deals with creditors to stave off bankruptcy, Trafigura will control 98 per cent of the company's shares. 30 approaches. Simultaneously, the loan will allow Nayara to cut debt levels. It currently has 2 directors. 6 billion at the end of March, equal to nearly 4. Previous You are on page 1 Next. Trafigura Tries to Save Troubled Zinc Smelter Nyrstar Olivia Da Silva - April 15th, 2019 Major shareholder Trafigura is taking control of European zinc smelter Nyrstar in an attempt to save it. Trafigura and others have struggled to make money from buying and storing cheap crude. BUNKERING DEPARTMENT GENERAL TERMS AND CONDITIONS OF SALE AND DELIVERY OF MARINE FUELS (GTC – AR) MAY 2018 1. 5 billion-equivalent. Trafigura sells another 19 new tankers to Scorpio in $803m deal The deal involving BoComm-financed vessels follows recent sale of 10 to Frontline in another ships-for-shares deal. The fallacy is that Trafigura treats it as equity instead of debt and the way that they could temporarily double their 2017 interim results’ retained earnings, for a fee (way above Trafigura’s equity cost/return)1. Trafigura declined to comment, while Republic of Congo government spokesman Thierry Moungalla said by phone from Brazzaville, the capital, that he "can't make any comments on whether our government has or hasn't signed any agreement with Trafigura. When they finance Trafigura, banks and bondholders probably derive comfort from the valuation of Trafigura’s assets, more than its cash flows. The fuel situation is a symptom of a bigger problem in the economy,” Reserve Bank Governor John Mangudya told a parliamentary Committee. 75 billion from LNG. Useful links. It however declined to reveal the yield on the bond saying it was a private transaction. Jun 19, 2019 · Trafigura is overstating the value of debt securities related to its 49. prices - and returned to the debt capital markets in a limited way. "Claude will be greatly missed by his family, friends, and vast network of business partners, as well as by us all," said Jeremy Weir, CEO Trafigura. After the closing of both transactions, which is expected before Sept. Bondholders still need to back the deal, which means waiving Nyrstar's event of default, allowing Trafigura to inject $250m of rescue finance — and accepting a package of Trafigura debt in place. David Mooney has left Bank of America in New York and joined Trafigura, a privately owned Swiss-based commodity trading company with offices in 30 countries. 5% stake in Porto Sudeste, an iron ore export terminal in Brazil, Iceberg, headed by Arnaud Vagner, said Wednesday in a report on its website. 5bn package of revolving credit and term loan facilities. The company said its net debt at the end of September, excluding zinc metal prepay and perpetual securities, had fallen 61 million euros from the end of June. Nyrstar raises $150m pre-payment from Trafigura. and Chinese refineries, according to internal PDVSA trade documents seen by Reuters. Mooney, former head of commodity derivatives at BoA, joined Trafigura’s London office as head of… 28 Mar 2003. It first closed a US$300mn RCF in 2006 and a recent facility, which will now be refinanced, was a US$1. 6 billion at the end of March, equal to nearly 4. Use the PitchBook Platform to explore the full profile. 7bn, while adjusted net debt — the company's favoured leverage metric, which strips out inventories and borrowings from its $4. LONDON, June 11 (Reuters) - Trading house Trafigura's six-month net profit jumped by 92% after strong performance from its oil and gas desks helped to offset weakness at the metals division and losses at key associates. In a letter sent to prime minister Clement Mouamba on May 15,. Under the. With 44 million Americans under a national debt of $1. You have to know what's happening with clients, competitors, practice areas, and industries. Debt and capital markets issuance Over the past five years, Trafigura has increasingly sought financing outside of the traditional commodity trade finance loan markets to diversify funding sources, lengthen the Group's maturity profile and continue to grow access to funding in support of growth. Puma Energy is a Singaporean multinational mid- and downstream oil company, majority-owned by the Singaporean Trafigura and the Angolan Sonangol Group. While we delivered strong financial results and record cash returns to shareholders, at the same time we were faced with some material challenges. Nov 21, 2018 · Trafigura granted extra cash to keep Nyrstar running smoothly as the company, the world's second-largest zinc producer, faced a crisis over its massive debt burden. Trafigura declined to comment, while Republic of Congo government spokesman Thierry Moungalla said by phone from Brazzaville, the capital, that he "can't make any comments on whether our government has or hasn't signed any agreement with Trafigura. By selling Essar Oil, the holding company Essar Group has already slashed its debt levels by 67 per cent, or Rs 70,000 crore. Sales and Trading. Moody's assigns provisional ratings to 4 Classes of ABS to be issued by Trafigura Securitisation Finance Plc 13 Jun 2017 Milan, June 13, 2017 -- Moody's Investors Service has assigned the following provisional ratings to four Classes of asset-backed notes to be issued by Trafigura Securitisation Finance Plc:. Trafigura needs to maintain a healthy debt-to-equity ratio as a guarantee for its bank lenders. TRAFIGURA GROUP PTE. Under the terms of the deal Trafigura will take an 8. Trafigura to face off with Nyrstar bondholders as debt deadline looms [CORRECTED] Trafigura is set for crunch talks with holders of Nyrstar bonds and the company's bankers, as the world's largest global zinc producer faces €340 million ($385 million) of looming debt repayments and a crumbling share price. Updated: 13 Oct 2016, will acquire 98% in India’s Essar Oil for about $12-$13 billion including debt,. Alongside their equity investment, both companies purchased listed debt securities issued by Porto Sudeste. Scale, eficiency and diversiication These strong results underline three important points about our business. Analysts said the deal. 7 billion today. Nyrstar is engages in mining, smelting, and producing zinc, lead, and other base and precious metals. sanctions on the OPEC nation's energy sector, a source with direct knowledge of the matter said. When they finance Trafigura, banks and bondholders probably derive comfort from the valuation of Trafigura’s assets, more than its cash flows. MUMBAI: Russian oil major Rosneft, oil trader Trafigura and Russian fund UCP closed their $12. Trafigura needs to maintain a healthy level of equity as a guarantee against debt with its bank lenders. Florina has 6 jobs listed on their profile. Paid a fair price for Essar Oil: Raoul Bajaj of Trafigura India 18 Oct, 2016, 11. Energy Minister Joram Gumbo said they had started drawing down on 100 million litres already availed by Trafigura which they would not be paying for until after a year, when the government must pay $5 million each week until the debt is fully paid. Jun 19, 2019 · Trafigura is overstating the value of debt securities related to its 49. The US$470mn non-recourse funding programme was arranged by BTMU, DBS, Mizuho, Natixis, OCBC and Westpac, in what the participants claim is the first of its kind. In the end, Trafigura was able to pay the sum owed to NB. The LNG portion of the gains was $646 million. Banks closely monitor the performance of Trafigura's assets as its debts stand at $33 billion and assets serve as the key metric in lenders' debt covenants. Can Japan burn all their debt? Fantastic interview with Watch the interview in full (and more) on Real Vision. Bangladesh has terminated talks with Swiss-based commodity trader Trafigura to install a small floating liquefied natural gas (LNG ) import terminal due to delays in agreeing terms, while rival trader Gunvor advances with a separate project. Trafigura has high debt levels relative to rival trading houses in terms of the net debt to earnings before interest, tax depreciation and amortisation (EBITDA) metric. Trading giant Trafigura has tapped the US dollar senior bond market for the first time. Trafigura said this month that its adjusted debt rose to $7. Trafigura stands accused, among 48 other defendants, of causing in excess of $5 billion worth of losses to PDVSA. The main lawsuits took place in Ivory Coast, in the United Kingdom and in the Netherlands. Trafigura initially proposed a write-off of more than 80%, and Nyrstar’s bonds dropped as low as 25 cents on the euro in February, according to data compiled by Bloomberg. Trafigura indirectly obtaining approximately 98 percent of the shares of the Nyrstar Operating Group. Operating cash flow indicates whether a company is able to. Its adjusted net debt - debt less cash and inventories - stands at $6 billion. Implementation of procedures related to finance and accounting (IFRS in local currency and in USD) together with the financial director in Brazil. Debt: IMF, Lazard freres and DSK wary of Beijing's progress with Trafigura. 5 times its annual earnings before interest, tax, depreciation and. During the committee's work, BB Energy and Trafigura were singled out. It is usually used for operating purposes and can fluctuate. Its 'adjusted total debt' stood at US$8. Australian developer Red River has finalised off-take agreements with global commodities trader Trafigura for zinc and lead concentrate production over the first three years of its near-production Thalanga project in N Qld. Trafigura needs to maintain a healthy level of equity as a guarantee against debt with its bank lenders. Venturex Resources has signed a term sheet for up to USD$70m - AUD$100m - in debt funding with multi-national base metals and energy trading company, Trafigura Pte Ltd, to underpin development of its fully-owned Sulphur Springs copper-zinc project near Port Hedland, WA. 7 million UAH to Axpo Ukraine. These terms and conditions for the sale of TRAFIGURA’s marine fuels are applicable to each and every sale of marine fuel by TRAFIGURA ARGENTINA. View detailed financial information, real-time news, videos, quotes and analysis on Buckeye Partners LP (NYSE:BPL). A pending sale of European assets also look to be a smart move to get rid of non-core assets and pay down debt. UL], Trafigura [TRAFGF. Trafigura sells another 19 new tankers to Scorpio in $803m deal The deal involving BoComm-financed vessels follows recent sale of 10 to Frontline in another ships-for-shares deal. The money that was secured from Trafigura is part of the Lima Plan which was designed in 2015 to clear Zimbabwe’s arrears and secure US$2 billion in funding. Russian oil major Rosneft, along with a consortium comprising Trafigura and UCP, on Monday announced completion of a USD 12. This positive development comes after the country successfully settled its debt arrears to the IMF on October 20, 2016. The management of the company Trafigura Trading (Europe) Sàrl consists of 3 persons. Trafigura collaborated with the Global CST on Green Horizon, a farming project alleged to be cover for a $150 million weapons sale by Global to South Sudan. On the other side of the hedge - the long side - Trafigura had fair value gains of $1. LONDON, June 11 (Reuters) - Trading house Trafigura's six-month net profit jumped by 92% after strong performance from its oil and gas desks helped to offset weakness at the metals division and losses at key associates. 75 Billion To Indian, Foreign Lenders – BloombergQuint , 8 January 2019 Essar Global repays […]. Just before, Ukrtransgaz repaid the debt in the amount of 293. Trafigura Group Pte Ltd. The legal basis for Trafigura Foundation processing your Personal data. Its adjusted net debt – debt less cash and inventories – stands at $6 billion. Acted as a leading link for the recuperation and settlement of outstanding debt. View Dimitris Tzallas’ profile on LinkedIn, the world's largest professional community. Sunday’s lawsuit was filed a year after Puerto Rico’s governor signed a historic bill to privatize a power company that is more than $9 billion in debt and operating an unstable electric. 3bn securitisation programmes. New Delhi: Russian oil major Rosneft, along with European trader Trafigura and Russian fund UCP, will acquire 98 percent in Essar Oil for about $12-$13 billion including debt, two sources familiar. Trafigura do Brasil March 2011 – Present 8 years 7 months. Puma Energy, the retail and storage arm of commodities trader Trafigura, plans to restructure and sell assets to cut its debt and improve profits, a source familiar with the matter said. Finance and Trade Finance Analytics to see. 5 times its annual earnings before interest, tax, depreciation and amortization in its fiscal 2018 year. Nyrstar will make its first principal repayment on taxpayers’ $291 million loan for the Port Pirie smelter, with Treasurer Rob Lucas using his power to approve or veto a takeover of the company as leverage in negotiations over the outstanding debt. Swiss commodity trading companies, including Trafigura and Vitol, take advantage of weak fuel standards in Africa to produce, deliver and sell diesel and gasoline, which is damaging to people’s health. Bonds Debt Capital Markets Corporate & Sovereign Strategy Loans Peru Asia. "A German national, Daniel has been amongst the founding members of Trafigura in 1993 and has remained closely involved in the company's developments since then. View Wei Ming Lim’s profile on LinkedIn, the world's largest professional community. Information on valuation, funding, acquisitions, investors, and executives for SmeltCo JV (Trafigura/Modern Mining Holding). Trafigura is a private company incorporated under the law of the Netherlands in 1993, which according to its corporate web page 'is the world's third largest independent oil trader and the second largest independent trader in the non-ferrous concentrates market'. Rio de Janeiro Area, Brazil. Toxic waste dumping in Abidjan, Ivory Coast Description: On August 20, 2006, toxic waste was illegally exported from Europe by multinational trading company Trafigura and left in Akoudo, a dump site in the middle of a poor residential area of Abidjan, and in 18 other sites in the city. Their business model relies on an illegitimate strategy of deliberately lowering the quality of fuels in order to increase their profits. See the complete profile on LinkedIn and discover Wei Ming’s connections and jobs at similar companies. PA) and Trafigura, have made new imports difficult as companies require cash upfront. Its 'adjusted total debt' stood at US$8. Rosneft will get 49 percent and the two investors -- European trader Trafigura and a Russian fund UCP -- will hold the remaining 49 percent in equal parts, they said, adding that the valuation included about $4. Most Viewed: Syndicated Loans. See the complete profile on LinkedIn and discover Shreya’s connections and jobs at similar companies. (II) The short name of the Securities is Trafigura 7. Trafigura, a global commodity trading giant and Nyrstar’s largest shareholder, in April revealed its intentions for a majority takeover of the zinc and lead miner. 7 billion, the highest among the major. Trafigura founder Claude Dauphin has died at the age of 64 after a long battle with cancer, the company announced on Wednesday September 30. At least on the surface, it appears that Trafigura, which is as reliant on the ups and down of commodity trading as Glencore, is far more levered, and exposed, to any commodity crush than the Swiss giant. 27, Trafigura will own approximately 10% of the ordinary shares in Scorpio Tankers with a value of about $170 million. Trafigura taps into panda bond market with $79m sale Trading giant has sold yuan-denominated bonds in China's mainland debt market for the first time. Operating Cash Flow - OCF: Operating cash flow is a measure of the amount of cash generated by a company's normal business operations. 75 billion from LNG, pipelines and refining deals. Its adjusted net debt - debt less cash and inventories - stands at $6 billion. Trafigura is overstating the value of debt securities related to its 49. At 172,000 bpd, Venezuela would be on track to pay Rosneft around $230 - 250 million per month, allowing Venezuela to pay off its $5 billion oil debt -- and regain the Russian's confidence about continued assistance. However, some information may have been edited directly by the professional, firm or their representative. LONDON--Commodities trader Trafigura Group Pte. Trafigura accounted for less than half of the $2 billion debt, the people said. Trafigura also maintains a presence in the debt capital markets, thus gaining increased access to longer-term finance to support our programme of investment in fixed assets. The agreement provides for full payment for the gas supplied by Ukrtransgaz until August 9, 2019, and the cancellation of property and other claims by Trafigura Ukraine", the company said. Bangladesh stops LNG talks with Trafigura. As part of the deal to save Nyrstar, lenders had to write off part of their debt or agree to extended repayment schemes while all the firm's operating assets were transferred into a new subsidiary called Newco 2 based in Britain, in which Trafigura holds a 98% stake. Trafigura has in fact not been served with any legal claim, considers the allegations made via the press to be wholly without merit and will vigorously defend against any legal claim if made," the. Trafigura is set for crunch talks with holders of Nyrstar bonds and the company’s bankers, as the world’s largest global zinc producer faces €340 million ($385 million) of looming debt repayments and a crumbling share price. Trafigura, rival Glencore Plc and local trader Orion Oil Ltd lent Congo about $2 billion between 2015 and 2016 using so-called pre-export finance deals, in which traders advance cash in return for future oil cargoes. 63 billion, giving a ratio of over five times, which compares with about 1. Trafigura, which has offices in 58 countries from China to Angola, according to its website, has total debt of 9. Commodity trader Trafigura has closed two debt facilities worth a combined US$1. "Trafigura Group is aware of reports in the Zimbabwean media suggesting the company has provided significant financing in support of the Zimbabwean government's effort to repay debt arrears to the World Bank and the African Development Bank," said McDoolley-Aimone. 63 billion at the end of its fiscal year in September 2016 while Ebitda stood at US$1. 3 billion reais ($596 million) of debt taken on by. The company has struggled to keep a lid on its debt but managed to hit its targeted ratio of below 1. We were also able, in 2013, to issue perpetual bonds and thus access different segments of the capital markets in the form of senior or subordinated debt denominated in different currencies. Its adjusted net debt – debt less cash and inventories – stands at $6 billion. Banks closely monitor the performance of Trafigura's assets as its debts stand at $33 billion and assets serve as the key metric in lenders' debt covenants. Trafigura needs to maintain a healthy level of equity as a guarantee against debt with its bank lenders. The deal would work as follows: Nayara obtains prepayments before delivering gasoil, while both BP and Trafigura would be getting oil at a fixed and discounted rate over next four years. Law360 provides the intelligence you need. 9bn package in September 2017. PA) and Trafigura, have made new imports difficult as companies require cash upfront. The LNG portion of the gains was $646 million. Trader and shipowner Trafigura Group has made its second foray into the Chinese debt market. Bernard Mpofu/Elias Mambo This is part of government's international re. Commodity trader Trafigura has accumulated a massive debt of $33b and has recorded a negative operating cash flow of $7. Those hedge funds currently hold the bulk of Nyrstar’s 2019 and 2024 high yield bonds, sources told Fastmarkets. Its adjusted net debt - debt less cash and inventories - stands at $6 billion. 7 billion, the highest among the major. The oil price crash to less. Trafigura granted extra cash to keep Nyrstar running smoothly as the company, the world’s second-largest zinc producer, faced a crisis over its massive debt burden. The registered office of the company is at UNIT NO. Puma Energy, the retail and storage arm of commodities trader Trafigura, plans to restructure and sell assets to cut its debt and improve profits, a source familiar with the matter said. Paid a fair price for Essar Oil: Raoul Bajaj of Trafigura India 18 Oct, 2016, 11. 5 million tons of LNG per annum for 15 years. The LNG portion of the gains was $646 million. Last year, trading company Trafigura directly took 34,000 barrels per day (bpd) of Venezuelan crude and products, which were mostly resold to U. Rosneft will get 49 percent and the two investors – European trader Trafigura and Russian fund UCP – will hold another 49 percent in equal parts, the sources said, adding that the valuation included about $4. will take control of Nyrstar NV, Europe’s biggest zinc smelter, as part of a deal to restructure the struggling company’s debt and steer it away from bankruptcy. Trafigura is an independent, employee-owned physical trading and logistics business. Monday, 5 August 2019 5:14PM. Mumbai Area, India. 7 billion, the highest among the major. See the complete profile on LinkedIn and discover Dimitris’ connections and jobs at similar companies. Trafigura stands accused, among 48 other defendants, of causing in excess of $5 billion worth of losses to PDVSA. Sberbank took advantage of Fabric's ability. With support from the ministry of finance and budget, Ominga is on the verge of reaching a compromise with the two traders. , the new company formed out of Nyrstar's operating assets after a debt restructuring. Trafigura has in fact not been served with any legal claim, considers the allegations made via the press to be wholly without merit and will vigorously defend against any legal claim if made," the. 35bn programme, following deals in April and May this year for $79m and $78m. Securing the support of a longterm strategic partner of the size- and calibre of Trafigura is a huge step forward for Venturex and a major. Trafigura have agreed to pre-pay part of the purchase price for the crude oil to be supplied under the Sales Contract on the terms of a prepayment agreement dated on or about the date of this Agreement between Trafigura, Stream and Stream Canada (the “Prepayment Agreement”), pursuant to which Trafigura shall be entitled to set off amounts. 5% stake in Frontline valued at $128 million, and will receive a cash payment of between $538 million and $547 million, the companies said on Friday. Trafigura and oil major BP along with other banks are in the process of syndicating a $1. You have to know what's happening with clients, competitors, practice areas, and industries. The deal with Impala Terminals Group, a joint venture between Trafigura and IFM Global Infrastructure Fund, is another move my Puma Energy to relieve some of its debt. Below is a statement by the global commodities firm following publication of the story: Trafigura Group is aware of reports in the Zimbabwean media suggesting the company has provided significant financing in support of the Zimbabwean government’s effort to repay debt. The debt is senior to equity holders and junior to Porto Sudeste's bank debt and is repaid through royalties derived from volumes shipped by the port. Essar Steel, which has a debt of over Rs 37,284, will have to be restructured once the application is filed at the National Companies Law Tribunal (NCLT). 4%), against a group of hedge funds that specialize in turning a profit from distressed debt. The process should be completed by the end of September. This is the first of Chambers’ Practice Guides to cover the global debt and equity capital markets and provides a comprehensive and practical route map through some pretty complicated territories. 0 times for adjusted debt to equity during its 2018 financial year. Rosneft, Trafigura – UCP consortium close Essar Oil Deal at $12. Trafigura, Glencore IMF Congo debt Posted By: Guest Post October 3, 2017 In the margins of the UN General Assembly, the French Special Envoy has organized a meeting between the IMF and the President of Congo-Brazzaville. There are currently 2 active directors according to the latest confirmation statement submitted on 26th August 2019. 3bn securitisation programmes. A funding package of USD 200 million related to the financing of the plant project was agreed by Terrafame, Finnish Minerals Group (previously Terrafame Group Ltd), Galena Asset Management, Trafigura Group and Sampo Plc in November 2017. Commodity trader Trafigura has moved to take control of Nyrstar through a debt restructuring that will save the struggling zinc producer from liquidation but wipe out existing shareholders. 16 times from 0. 9bn package in September 2017. OSLO — Commodities trader Trafigura is joining forces with shipping firms Frontline and Golden Ocean to supply marine fuel ahead of a shake up in regulation which could disrupt delivery and. 2 days ago · For the Partnership as a whole, we expect to amortize approximately $220 million of debt over 2019 and 2020, equivalent to almost 1x annual EBITDA and 9% of total Cap. Trafigura, a global commodity trading giant and Nyrstar’s largest shareholder, in April revealed its intentions for a majority takeover of the zinc and lead miner. Nyrstar NV said on Friday it had received an unsolicited offer from Trafigura to buy the 2% stake for 22 million euros ($24. Indicatively, Glencore’s own debt/EBITDA, and the reason for so much conerns about the company’s solvency, is about half of Trafigura’s. plunging metals prices and a $465 million debt repayment in May. Essar repaid Rs 1. View detailed financial information, real-time news, videos, quotes and analysis on Buckeye Partners LP (NYSE:BPL). 175 billion and a three-year US dollar term loan facility worth US$435 million; and a one-year renminbi-denominated tranche worth US$380 million. About Trafigura AG Trafigura AG is a wholly owned subsidiary of. UK Trafigura Holding Group Co. Trafigura declined to comment, while Republic of Congo government spokesman Thierry Moungalla said by phone from Brazzaville, the capital, that he "can't make any comments on whether our government has or hasn't signed any agreement with Trafigura. However, this ratio rose in the first half of 2019 to 1. Jun 11, 2019 · As a result, the debt to equity ratio worsened to 1. The investment costs of the battery chemicals plant are in total approximately EUR 240 million.