FRANKFURT, Dec 5 (Reuters) – Commodities buying and selling agency Trafigura on Monday stated it has entered right into a $3 billion four-year mortgage to produce gasoline to German gasoline dealer Sefe, previously generally known as Gazprom Germania, and assist Europe’s largest financial system safe volumes long-term.
“We’re proud to be contributing to Europe’s vitality safety by supplying this important quantity of gasoline to Germany backed by our intensive portfolio and long run US LNG contracts,” Richard Holtum, Head of Gasoline and Energy Buying and selling for Trafigura, stated.
The deal comes as Germany is struggling to switch Russian gasoline volumes, previously its greatest supply however provide of which was absolutely stopped in August, with options.
The mortgage is collectively organized and underwritten by Deutsche Financial institution (DBKGn.DE) and one other worldwide financial institution. Over 25 banks participated within the syndication.
The mortgage is partly secured by a assure below the Untied Monetary Mortgage program of the German authorities performing by way of the German Export Credit score Company Euler Hermes AG, a division of Allianz (ALVG.DE).
Trafigura stated it could primarily use current portions from its international gasoline and LNG portfolio to cowl provides to Sefe.
Reporting by Christoph Steitz
Enhancing by Paul Carrel
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