Trafigura, one of the world's largest and most profitable commodities traders, plans to approach investors next week over its first bond issue, in a move to diversify its funding.

The capital market issue would mark a significant departure for the publicity-shy trader, which has until now relied on bank credit lines. Tapping the bond markets will force Trafigura to open its books for the first time to investors, raising its public exposure.

The trader's financing plans are another sign that the traditionally publicity-shy Switzerland-based trading houses, which dominate global commodities markets, are slowly lifting their veil of secrecy. Glencore, the world's biggest trader, is moving towards a public listing, while oil traders such as Vitol or Gunvor have disclosed some financial details.

Trafigura was founded in 1993 by Claude Dauphin and Eric de Turckheim, two former senior oil traders at Marc Rich + Co, the famed trading house which, after a management buy-out, transformed itself into Glencore.

Last year, Trafigura was embroiled in a controversy about the disposal of petroleum products waste in Ivory Coast and obtained a super-injunction in London blocking the release of some of the details. Trafigura denied any wrongdoing.

The trader has lined up Lloyds, Royal Bank of Scotland and BNP Paribas for the potential Eurobond issue, which could raise several hundred millions euros.

However, those familiar with the trader's plans said that it had “not reached a final decision” to go ahead. Trafigura and the banks declined to comment.