A complete unknown? Trafigura leads the market with innovative eBL financing

In:

Metals and Mining

Region:

Europe

Ralph Ivey

Commodities Editor

In October 2024 Trafigura closed a $2.8 billion borrowing base – the first in the syndicated market to use electronic bills of lading as collateral. How did the trader grapple with legal and technical questions and convince a group of 27 lenders to back this innovative new structure?

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