Aegean Marine Petroleum Network announced that it has successfully renewed its $1 billion secured global borrowing base multicurrency revolving credit facility. Aegean said all of the participating lenders have renewed their commitments to Aegean at improved terms in-line with market conditions.

In addition to the global borrowing base Aegean also announced that it has renewed its $250 million secured U.S. borrowing base revolving credit facility at a reduced interest rate. The U.S. borrowing base is intended to continue to finance the company’s operations in the U.S.

Both borrowing base facilities will also continue to be used for the financing of working capital needs in connection with the purchase, transportation, storage and sale of fuel and gas oil.

The U.S. borrowing base renewal was also arranged by ABN AMRO as sole lead arranger, bookrunner and syndication agent. ABN AMRO also acted again as agent in all capacities. The lending group includes the following banks: ABN AMRO, BNP Paribas as co-agent, Natixis, Rabobank, ING, Macquarie and Societe Generale.

The Global Borrowing Base renewal was arranged by ABN AMRO as active bookrunning mandated lead arranger. ABN AMRO also acted as coordinator and agent in all capacities. The lending group includes the following banks: ABN AMRO, BNP Paribas, KBC, NATIXIS, Rabobank, ING, Societe Generale, Belfius, National Bank of Greece, Credit Suisse, Mashreqbank, Emirates NBD, and Arab Bank.

E. Nikolas Tavlarios, president of the company, commented, “We appreciate the interest of our lenders and their confidence in our business model and ability to execute our strategy, which is focused on achieving profitable revenue growth and increased global market share.”

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.