Trafigura's bonds show new financing route for commodity traders
Singapore
FINANCING is the lifeblood of commodity traders - as investors would have observed from Noble Group's struggle to return to profitability amid constrained access to financing facilities.
In this respect, the move by Trafigura, one of the largest oil traders in the world, to sell inventory-backed bonds to six banks and eventually to the capital market in future, marks a new milestone in the commodity financing space and offers a new funding model for other commodity traders to adopt.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results
Porsche posts Q1 profit drop on ramp-up costs