SOCAR Trading announced it has signed a $150 million revolving credit facility arranged by Rabobank and Societe Generale as mandated lead arrangers.

SOCAR said this is the first revolving credit facility for the company and complements its existing syndicated borrowing base and bilateral facilities with over 20 financial institutions.

These facilities support SOCAR Trading’s established and continuing global growth strategy.

SOCAR said the facility was arranged by Rabobank and Société Générale Corporate and Investment Banking as the bookrunning mandated lead arrangers. The Bank of Tokyo-Mitsubishi UFJ and Société Générale act as issuing banks and Rabobank as the facility agent.

The facility will have an initial tenor of 12 months and also includes two 364-day extension options.