With sentiment clouded by a potential rate hike in the US and volatility in the crude oil market, commodities trader Trafigura took a smart route launching its latest bond offering in Europe first before tapping Asian demand.
The Singapore- and Switzerland-headquartered commodities trading house returned to the international bond markets on Tuesday, raising $600 million through a non-callable five-year perpetual bond sale.
The unrated deal was well received by both European and Asian investors, drumming up as much as $2.8 billion of orders before the release of final price guidance, according to two syndicate bankers running the deal.
“The company decided to launch the...
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