April 30, 2018 / 5:23 AM / 10 months ago

Trafigura raises $79 mln from its first yuan-denominated bond in China

SINGAPORE, April 30 (Reuters) -

* Trafigura said on Monday it has become the first international commodity trading house to tap on China’s capital market and has raised 500 million yuan ($79 million) by issuing its first yuan-denominated bond

* The first tranche, part of Trafigura’s 2.35 billion yuan Panda Bond programme, was placed in the interbank market under a private placement format for a 3-year maturity, the company said in a statement

* “We have planted the Trafigura flag in a fast-growing debt market and intend to become a recurring issuer,” Christophe Salmon, chief financial officer, said

* “This promising market will offer Trafigura an additional source of liquidity on an ongoing basis, supporting the growth of our trading business and investments,” he said

* Bank of China and ICBC were the lead bookrunners on this transaction, Trafigura said ($1 = 6.3325 Chinese yuan) (Reporting by Florence Tan; Editing by Gopakumar Warrier)

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