Trading company BB Energy raised a $245 million revolving credit facility to refinance existing credit and for general corporate purposes.

The company, which was founded in Lebanon in 1937 and has offices in London, Singapore, Dubai, Houston, Athens and Beirut, last year traded about 20 million tonnes of crude oil, petroleum products and gas.

Credit Suisse, ING Bank, Natixis and Standard Chartered Bank, UBS and UniCredit Bank, arranged the loan before it was syndicated to a larger group of banks.