Daily News: September 21, 2016

ABN AMRO Agents Renewal of Aegean Marine $1.250B Facilities


Aegean Marine Petroleum renewed its $1 billion secured global borrowing base multicurrency revolving credit facility and $250 million secured U.S. borrowing base revolving credit facility.

The global borrowing base renewal was arranged by ABN AMRO as sole lead arranger, bookrunner and syndication agent. ABN AMRO also acted as agent in all capacities. The lending group includes ABN AMRO, BNP Paribas, KBC, NATIXIS, Rabobank, ING, Societe Generale, Belfius, National Bank of Greece, Credit Suisse, Mashreqbank and Emirates NBD.

The U.S. borrowing base renewal was also arranged by ABN AMRO as sole lead arranger, bookrunner and syndication agent with ABN AMRO as administrative agent. The lending group includes ABN AMRO, BNP Paribas, NATIXIS, ING, Macquarie and Societe Generale.

Both borrowing base facilities are 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 U.S. businesses.

E. Nikolas Tavlarios, president of Aegean, said, “We are pleased to reach this agreement with our lenders as we believe it provides Aegean with ample financial flexibility to continue executing our strategy.”

Aegean Marine Petroleum Network is an international marine fuel logistics company that markets and physically supplies refined marine fuel and lubricants to ships in port and at sea.