Daily News: October 10, 2013

Vitol SA Increases Syndicated Revolver to $7B

Vitol SA announced that ABN AMRO Bank N.V., BNP Paribas, Crédit Agricole Corporate and Investment Bank, Credit Suisse AG, Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A., DBS Bank Ltd, London Branch, Deutsche Bank AG, ING Bank N.V., J.P. Morgan Limited, Lloyds Bank, Mizuho Bank, The Royal Bank of Scotland, Société Générale Corporate & Investment Banking, Standard Chartered Bank and UniCredit Bank AG acted as mandated lead arrangers and bookrunners for the company’s facility increase.

Vitol SA announced successful signing of a new $841 million revolver and 3-year $6.159 billion revolving credit facility for the company and co-borrower Vitol Finance B.V.

The new facilities will be used for general corporate purposes and to refinance the company’s maturing $5.220 billion, 3-year revolving credit facility signed in October 2011, and one-year $782 milllion revolving credit facility signed in October 2012.

Jeff Dellapina, CFO, said, “We very much appreciate the continued support of all our banking partners.”

The Vitol Group, founded in 1966 in Rotterdam, the Netherlands, is one of the world’s largest independent energy traders. Its trading portfolio includes crude oil, oil products, LPG, LNG, natural gas, coal, electricity, agricultural products, metals and carbon emissions.

To read the entire press release, click here.