Vitol secures new credit facilities

vitollogoVitol announced it has increased its Syndicated Revolving Credit Facility to USD 7 billion on October 8th, following strong demand.

ABN AMRO Bank N.V., BNP Paribas, Crédit Agricole Corporate and Investment Bank, Credit Suisse AG, Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (trading as Rabobank International), DBS Bank Ltd, London Branch, Deutsche Bank AG, ING Bank N.V., J.P. Morgan Limited, Lloyds Bank plc, Mizuho Bank Ltd, The Royal Bank of Scotland plc, Société Générale Corporate & Investment Banking (the corporate and investment banking division of Société Générale), Standard Chartered Bank  and UniCredit Bank AG acting as Mandated Lead Arrangers and Bookrunners signed a new USD 841 million 364-day and USD 6.159 billion 3-year revolving credit facilities (the “Facilities”) for Vitol S.A. and co-borrower Vitol Finance B.V. (“Vitol” or the “Company”).

These new Facilities will be used for general corporate purposes and to refinance the Company’s maturing USD 5.220 billion 3-year revolving credit facility signed in October 2011 and USD 782,000,000 364-day revolving credit facility signed in October 2012.

The Vitol Group was founded in 1966 in Rotterdam, the Netherlands. Since then the company has grown significantly to become a major participant in world commodity markets and is now the world’s largest independent energy trader. Its trading portfolio includes crude oil, oil products, LPG, LNG, natural gas, coal, electricity, agricultural products, metals and carbon emissions. Vitol trades with all the major national oil companies, the integrated oil majors and the independent refiners and traders. Globally Vitol trades over 5 million barrels of crude oil and oil products per day and revenues in 2012 were $303 billion.

From Vitol.com

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