B.B. Energy Group Holding Ltd. – known as B.B. Energy – is pleased to announce the successful signing of its USD 197.5 million 1 Year Revolving Credit Facility (RCF). The facility will be used to refinance the existing Revolving Credit Facility signed in 2019 and for general corporate purposes.
The new facility was launched in primary syndication at USD 175 million on 27th August 2020 and was oversubscribed by about 27% in syndication, enabling an increase in size to USD 197.5 million while still scaling back lenders’ commitments. 2 new banks joined the RCF this year.
B.B. Energy is among the world’s leading independent energy trading companies, with key offices in London, Singapore, Dubai, Houston and Athens.
B.B. Energy’s CFO Riccardo Greco commented:
“I am thrilled with the outcome of this year’s syndication, and I would like to thank all our existing and new lenders who have supported us despite the challenging times that the banking community is facing in our industry. We are fully committed to dedicate the time and effort necessary to strengthen even further our existing bank relationships and to develop the new ones to the next level of collaboration.”
Credit Suisse (Switzerland) Ltd., ING Bank N.V., Natixis acted as Mandated Lead Arrangers and Bookrunners (MLABs) with Abu Dhabi Commercial Bank and UBS Switzerland AG joining the Facility as Mandated Lead Arrangers prior to the launch of the syndication.