Aegean Marine Petroleum Renews USD 1.25 Bn of Credit

Image Courtesy: Aegean Marine Petroleum

Greek marine fuel logistics company Aegean Marine Petroleum Network has renewed its USD 1 billion secured global borrowing base multicurrency revolving credit facility.

The company said that the vast majority of the existing participating lenders updated their commitments to Aegean at improved terms in-line with market conditions.

In addition to the global borrowing base, Aegean also said it renewed a USD 250 million secured US borrowing base revolving credit facility on improved terms, which would be in part used to finance its operations in the United States.

“Both borrowing base facilities are also expected to continue to be used for the financing of the company’s working capital needs in connection with the purchase, transportation, storage and sale of fuel and gas oil for the company’s global and US businesses,” according to Aegean.

E. Nikolas Tavlarios, President of Aegean, said that this agreement “provides Aegean with ample financial flexibility to continue executing our strategy.”

Both renewals were arranged by ABN AMRO as sole lead arranger, bookrunner and syndication agent. ABN AMRO also acted again as agent in all capacities.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Apr 2017 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

THE 30TH WORLD PORTS CONFERENCE Enabling Trade Energizing The World

This event is expected to have more than 500 attendees from the field of port, logistics, shipping and maritime industry…

read more >

Singapore Maritime Week 2017

Singapore Maritime Week (SMW) is the leading maritime event in Singapore. Driven by the Maritime and Port Authority of Singapore (MPA), SMW…

read more >

Breakbulk Europe 2017

For more than a decade, Breakbulk Europe has served as the networking hub for industry professionals who do business in Europe — or would like to! Exhibitors and sponsors include cargo owners, ocean carriers, freight forwarders, ports/terminals, heavy haulers, equipment companies and more that are involved in this specialized industry.

In addition to exceptional networking opportunities, Breakbulk Europe provides a dynamic conference, along with a range of educational and training workshops — intensive all-day classes held the day before the exhibition opens as well as many on-the-floor sessions.

  • Over 7,600 participants attended Breakbulk Europe 2016
  • Meet with over 400 exhibitors and sponsors
  • Hear from industry experts, including leading shippers, during the conference sessions
  • Learn new skills in the educational workshops held before the exhibition and on-the-floor micro-seminars and exhibitor-led sessions during the event

More info

read more >

Smart Operations

Smart Operations events, from Fathom Maritime Intelligence, examines how to use intelligent shared integration, and connected operations…

read more >