Daily News: October 6, 2016

J.P. Morgan, Others Arrange $8B Vitol Facility


Vitol signed $8 billion in syndicated revolving credit facilities with a syndicate of banks. J.P. Morgan served as documentation and facility agent.

Lead arrangers and bookrunners included: ABN AMRO, Bank of America Merrill Lynch, The Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citigroup, Commerzbank, Rabobank International, Crédit Agricole, Credit Suisse, DBS, Deutsche Bank, HSBC Bank, ING, J.P. Morgan, Lloyds Bank, Mizuho Bank, The Royal Bank of Scotland, Société Générale, Standard Chartered Bank, Sumitomo Mitsui and UniCredit.

BNP Paribas, Commerzbank, MUFG, The Royal Bank of Scotland and UniCredit acted as active bookrunners.

The transaction launched on August 22, 2016 and was supported by 55 banks.

Vitol extended by 12 months the maturity date of its existing three-year $7 billion revolving credit facility and refinanced the maturing 364-day $924 million revolving credit facility with a new 364-day revolving credit facility of the same size, after having been increased from a launch amount of $740 million.

Vitol is a global energy and commodities company, primarily focused on the trading and distribution of energy products.