Société Générale arranged a new $80 million credit facility for global shipping and oil company Monjasa.

Monjasa announced its partnership with Société Générale as it continues to expand into oil trading.

During Q2/16, Monjasa also increased an existing credit facility by $15 million to support its offshore ship-owning activities.

“Our financing model is important for this development and decisive for offering our business partners the global services and efficiency they expect. Therefore, we have been very determined to obtain this deal and today I am delighted to introduce a new USD 80 million credit facility arranged by Société Générale,” said Monjasa Group CFO Kenneth Henriks. “We see the establishment of this new facility as a seal of approval in the robustness of our business model and confirmation of the value of our strong balance sheet, most recently demonstrated in our 2015 Annual Report.”