The Japan Bank for International Cooperation (JBIC) loan agreement with Trafigura

King & Spalding advised the Japan Bank for International Cooperation (“JBIC”), a Japanese policy-based financial institution, as lender in a $390,000,000 loan (the “Loan”) with Singapore headquartered Trafigura Pte Ltd. The Loan was co-financed with Sumitomo Mitsui Banking Corporation, bringing the total co-financing amount to approximately $560,000,000.  

Trafigura is a major supplier of resources including liquefied natural gas (LNG) as a market leader in the global commodities industry. The loan is intended to provide the funds required for a Japanese utility company to import LNG from Trafigura. Amid the growing global demand for LNG and the increasing uncertainty over resource prices, the loan, which supports the Japanese utility company in procuring term LNG through Trafigura, will contribute toward securing a stable supply of LNG, which is an important energy resource for Japan.

The King & Spalding team advising JBIC included Mark Davies (TKO), Daisuke Shimodaira (TKO) and U-Glen Lim (SNG) and Yoshitaka Narita (TKO).