Vitol Returns for $8 Bln Loan Refinancing

October 4, 2017

Geneva-headquartered energy and commodities trader Vitol has signed an US$8bn loan refinancing of credit facilities agreed in October 2016, the company announced on Wednesday.
 
The revolving credit facility, which is used for working capital and general corporate purposes, comprises a three-year tranche and a 364-day tranche. The three-year tranche totals over US$7bn.
 
ABN AMRO Bank, Commerzbank, Credit Agricole CIB, HSBC Bank and ING Bank were active bookrunners on the transaction.
 
Bank of America Merrill Lynch, MUFG, BNP Paribas, Citigroup, Credit Suisse, DBS Bank, Deutsche Bank, JP Morgan, Lloyds Bank, Mizuho Bank, Natixis, Rabobank, Societe Generale, Standard Chartered Bank, SMBC and UniCredit Bank were mandated lead arrangers and bookrunners.
 
JP Morgan Europe is facility agent while JP Morgan Chase Bank acted as documentation agent.
 
Syndication was launched in August and closed oversubscribed with a further 34 banks joining.
 
The loan was signed on October 2.
 
Last year’s financing comprised a US$7.076bn, three-year tranche and a US$924.2bn 364-day tranche.


(By Alasdair Reilly; Editing by Tessa Walsh)

Logistics News

Ship Design, Maritime Accidents and There’s a Master on the Run

Ship Design, Maritime Accidents and There’s a Master on the Run

Maersk: Effective US Tariffs Average Around 21% Currently

Maersk: Effective US Tariffs Average Around 21% Currently

US Grain Shipments Surge 9% in face of Chinese Tariffs

US Grain Shipments Surge 9% in face of Chinese Tariffs

Great Lakes Limestone Trade Up in June

Great Lakes Limestone Trade Up in June

Subscribe for Maritime Logistics Professional E‑News

Kyiv blames Russian attack for power cut at Ukraine's Zaporizhzhia Nuclear Power Plant
The discount on Russian Urals oil sent to India has been the lowest since 2022.
Chinese captain in Baltic Sea cable damage case appears before Hong Kong court