International law firm Simmons & Simmons has advised Traxys, a leading global trader and merchant in metals and natural resources, on the successful amendment, extension and increase of its flagship multicurrency syndicated revolving credit facility to $2 billion.
The transaction was significantly oversubscribed, attracting strong support from a 30 bank syndicate. Notably, twenty banks increased their commitments, with several of the newer lenders that joined in last year’s refinancing already increasing their participation in the transaction.
The financing will support the continued growth of Traxys’ global commodities businesses and further consolidation of its leading position in critical materials markets.
Headquartered in Luxembourg, Traxys operates through more than 20 offices worldwide and has an annual turnover in excess of $10 billion.
Simmons & Simmons advised Traxys with a team led by partner Eric Blomme, head of the firm’s Belgian Banking & Finance practice.
Eric Blomme commented: “Our experienced team is very pleased to have advised our long standing client Traxys on this landmark amend and extend of its flagship facility, which follows on from last year’s Borrowing Base Deal of the Year. The strong oversubscription and depth of lender support reflects Traxys’ strong market position and the robustness of its financing platform.”
