Posted by OilVoice Press - OilVoice
Vitol S.A. is pleased to announce that it has closed syndication of a new US$ 8.0bn revolving credit facility.
The Facility comprises a 3-year tranche and a 364-day tranche, with over US$7.0bn commitments in the 3-year tranche.
The Facility will be used for working capital and general corporate purposes including the refinancing of the Company's existing 3-year and 364-day revolving credit facilities, totalling c. US$8.0bn.
ABN AMRO Bank N.V., Commerzbank Aktiengesellschaft, London Branch, Crédit Agricole Corporate and Investment Bank, HSBC Bank plc and ING Bank N.V. were Active Bookrunners on the transaction.
Bank of America Merrill Lynch International Limited, the Bank of Tokyo-Mitsubishi UFJ, Ltd., BNP Paribas, Citigroup Global Markets Limited, Credit Suisse AG, DBS Bank Ltd., London Branch, Deutsche Bank Luxembourg S.A., J.P. Morgan Securities plc, Lloyds Bank plc, Mizuho Bank, Ltd., Natixis, Rabobank, Société Générale Corporate & Investment Banking, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation and UniCredit Bank AG wereMandated Lead Arrangers and Bookrunners.
J.P. Morgan Europe Limited will act as Facility Agent and JPMorgan Chase Bank, N.A. acted as Documentation Agent.
Syndication was launched in August 2017 and the transaction closed oversubscribed with a further 34 banks joining the facility.
Vitol is an energy and commodities company; its primary business is the trading and distribution of energy products globally – it trades over seven million barrels per day of crude oil and products and, at any time, has 250 ships transporting its cargoes.
Vitol's clients include national oil companies, multinationals, leading industrial and chemical companies and the world's largest airlines. Founded in Rotterdam in 1966, today Vitol serves clients from some 40 offices worldwide and is invested in energy assets globally including: circa 18mm3 of storage across six continents, 480kbpd of refining capacity and 5,000 service stations across Africa, Australia, Eurasia and in Northwest Europe. Revenues in 2016 were $152 billion.
Visit source siteVitolCredit Facility