Nyrstar NV ("Nyrstar", together with its subsidiaries, the "Group") entered into a Trade Finance Framework Agreement (“TFFA”) with Trafigura Pte Ltd ("Trafigura") on December 6, 2018 under which Trafigura will extend US$650 million of committed liquidity in favour of Nyrstar Sales & Marketing AG ("NSM").
NSM's US$250 million working capital facility agreement with Trafigura, which was originally entered into in May 2016 was cancelled and replaced by the TFFA. The US$220 million interim prepayment agreement (“Prepayment Agreement”) dated November 21, 2018 which NSM entered into with Trafigura was also replaced and refinanced by the TFFA.
The TFFA benefits from a comprehensive guarantee and security package comprising financial guarantees from 12 Group companies that are (together with NSM) currently the guarantors/issuers under the Group's bonds, pledges over shares of certain subsidiaries, and pledges over certain assets.
Nyrstar is a global multi-metals business, with a market leading position in zinc and lead, and growing positions in other base and precious metals. Nyrstar has mining, smelting and other operations located in Europe, the Americas and Australia and employs approximately 4,100 people. Nyrstar is listed on Euronext Brussels.
Fasken advised Nyrstar in connection with the Prepayment Agreement and the TFFA with a team led by John Elias and including Brent Lewis and Gabrielle Motuz (banking & finance), Alex Nikolic (corporate), Stuart Brotman (restructuring) and Mitchell Thaw (tax).
NSM's US$250 million working capital facility agreement with Trafigura, which was originally entered into in May 2016 was cancelled and replaced by the TFFA. The US$220 million interim prepayment agreement (“Prepayment Agreement”) dated November 21, 2018 which NSM entered into with Trafigura was also replaced and refinanced by the TFFA.
The TFFA benefits from a comprehensive guarantee and security package comprising financial guarantees from 12 Group companies that are (together with NSM) currently the guarantors/issuers under the Group's bonds, pledges over shares of certain subsidiaries, and pledges over certain assets.
Nyrstar is a global multi-metals business, with a market leading position in zinc and lead, and growing positions in other base and precious metals. Nyrstar has mining, smelting and other operations located in Europe, the Americas and Australia and employs approximately 4,100 people. Nyrstar is listed on Euronext Brussels.
Fasken advised Nyrstar in connection with the Prepayment Agreement and the TFFA with a team led by John Elias and including Brent Lewis and Gabrielle Motuz (banking & finance), Alex Nikolic (corporate), Stuart Brotman (restructuring) and Mitchell Thaw (tax).
