ARM Energy Services, a private energy marketing firm, entered into a $110 million senior secured revolving credit facility with Rabobank as administrative agent, book runner and lead arranger.
ARM Energy Services used some of the proceeds from the revolving credit facility to refinance its $85 million credit facility and will use the remainder to support working capital needs and general corporate purposes.
“ARM Energy is excited to be expanding its credit facility and banking relationships,” Zach Lee, CEO of ARM Energy Holdings, said. “We pride ourselves on identifying synergies across the energy value chain and expect this financing to enhance our overall energy platform.”
“Rabobank is proud to partner with ARM Energy on its inaugural commodity finance borrowing base facility,” Christine Dirringer, global head of trade and commodity finance at Rabobank, said. “This financing will serve ARM well and reflects Rabobank’s strategy of leveraging natural gas as a transition fuel. We look forward to working with ARM Energy for years to come.”
“We have known the Rabobank team for several years and were impressed with their energy capabilities in leading this inaugural deal,” Bo Dunne, CFO of ARM Energy Holdings, said. “We are pleased to welcome high-quality commodity finance banks into our transaction, including Brown Brothers Harriman, First Horizon Bank, Macquarie Group and Valley National Bank. The composition of the syndicate, coupled with a $90 million accordion, provide a clear path to execute our growth initiatives.”
ARM Energy Services, together with its affiliates, provides producer services and conducts asset management optimization, logistics and wholesale trading activities across the United States, Canada and Mexico.
