Trafigura Trading, a wholly-owned subsidiary of Trafigura Group, renewed its North American credit facility, downsizing the borrowing base from $3.5 billion to $3 billion because of a reduced financing need in the lower priced commodity environment.

MUFG acted as administrative agent and served, along with Natixis, New York Branch, and SG Americas Securities as lead arranger and joint book-runners.

The facility supports Trafigura Trading’s energy trading, logistics and merchant activities in North America. This includes its crude and condensate supplies from the Eagle Ford and Permian basins and related to its interest in the Buckeye Texas Partners terminal in Corpus Christi, TX.

Trafigura Trading’s North American Chief Financial Officer, Rodney Malcolm, said, “The Trafigura Group is pleased to have had another successful refinancing with the facility being oversubscribed. This allows us to continue to meet the working capital needs of our growing business. The continuing commitment from our banking partners allows us to continue to secure market opportunities and grow our energy-related assets.”