Cases & Deals

Trafigura acquires majority stake in Nyrstar operating business

Client(s) Trafigura Group Pte. Ltd.

Jones Day advised Trafigura Group Pte. Ltd. (“Trafigura”), a market leader in the global commodities industry, in connection with its acquisition of a majority stake in the operating business of Nyrstar, a multi-billion dollar global metals business. The acquisition was completed through a scheme of arrangement in England and Wales under which Trafigura issued securities to Nyrstar’s creditors, including €262.5 million of 7.50% Perpetual Resettable Step-up Subordinated Securities listed on the Singapore Stock Exchange (the “Perpetual Securities”) and US$88 million of 5.25% Guaranteed Senior Notes due 2023 under Trafigura’s Medium Term Note Programme listed on Euronext Dublin (the “MTN Notes”). Jones Day advised Trafigura on the issuance of the Perpetual Securities, the update of its €3 billion Medium Term Note Programme and the issuance of the MTN Notes thereunder.