Frankfurt – October 29, 2026 -- KfW IPEX-Bank has committed USD 300 million to a USD 1.5 billion untied loan for commodities trader Trafigura. The loan finances more than 150 TWh of natural gas deliveries to Germany over five years.
Nine-bank consortium backs facility with Euler Hermes guarantee
The financing is an untied financial loan (UFK) covered by a guarantee from German export credit insurer Euler Hermes. Nine banks participate. KfW IPEX-Bank acts as Facility Agent and as coordinator and agent for the export credit agency (ECA).
Trafigura to supply SEFE from its global gas portfolio
Trafigura will deliver the volumes to SEFE Securing Energy for Europe, drawing primarily on its global gas portfolio. The first delivery is scheduled for November 1, 2026.
The parties say the transaction is meant to offset declining gas supplies and to support supply security and the resilience of energy infrastructure in Germany and Europe.
KfW IPEX-Bank frames deal as supply chain safeguard
Velibor Marjanovic, a member of KfW IPEX-Bank's management board, described Trafigura as a long-standing client. He said the deal shows how targeted financing can strengthen critical supply chains and support the German economy.