Trafigura Securitization Finance's (TSF) series 2012-1 is in the market. The offering is backed by a pool of trade receivables originated by Trafigura Beheer B.V., Trafigura Pte. (Singapore), and Trafigura AG, according to Standard & Poor's.
This will be Trafigura's second trade-receivables-backed medium-term note issuance. S&P has assigned preliminary ratings of 'AAA (sf)' to the Class A worth $232.5 million and 'BBB (sf)' to the Class B worth $17.5 million.