Trafigura US$600m perpetual bond issue sees orders of close to US$3b

SINGAPORE - Singapore-based commodity trader Trafigura Pte Ltd saw orders of close to US$3 billion (S$4.24 billion) for its US$600 million issue of perpetual bonds.

The issue was increased in size because of strong demand from institutional investors and private banks, the Financial Times reported.

It was priced at 6.875 per cent and privately-held Trafigura said the proceeds from its third perpetual securities will be used to further diversify its financing base and reinforce its balance sheet.

Joint bookrunners on the bond issue were ANZ, Bank of America Merrill Lynch, DBS Bank, and Deutsche Bank.

Correction: An earlier version of the article mentioned the issue of perpetual bonds to be US$500 million. It should be US$600 million. We are sorry for the error.