Bunker Holding Increases Financing Facilities
Press release - Bunker Holding, a Danish company within bunker trading, has secured a new loan facility.
In July, Bunker Holding announced its best result ever with a profit of $91 million before tax and an equity of $295 million, a result which, according to the group’s CEO Keld R. Demant, is achieved by controlled and profitable growth.
The future growth is now further supported by a new loan facility which increases the group’s financing facilities by 50 percent, the company said.
The new financing facility is a committed and unsecured (no pledge of assets) facility that amounts to $650 million. It covers a five-year period and includes additional options to increase the facility with up to 35 percent.
In addition, the group has separate limits for stock financing and trade receivables financing which all together brings the accumulated funding possibilities of the group to more than $1 billion.
The facility is established with an international group of eight banks, led by Deutsche Bank AG as coordinator. The bank group consists of Bunker Holding’s existing relationship banks as well as new banks (Deutsche Bank, Nordea Bank, Danske Bank, HSBC, Jyske Bank, NordLB, DZ Bank and Nykredit Bank).