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Trafigura scores $400m loan from Middle East banks
- Middle East: Wednesday, September 12 - 2012 at 15:10
A group of Gulf-based banks have provided commodities trader Trafigura with a $400m loan, as the group looks to diversify its lending pool at a time of stress in traditional banking spheres, Reuters has reported, citing banking sources. The one-year revolving credit facility was arranged by BNP Paribas and involved 11 Gulf Arab banks joining the deal, which was signed at the end of August, said the sources. The banks which joined the facility are Arab Petroleum Investments Corp, Arab Bank, Abu Dhabi Commercial Bank, Ahli United Bank, Commercial Bank of Qatar, Doha Bank, First Gulf Bank, Gulf International Bank, Mashreq and Union National Bank, a source said.
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