Greenergy closes the refinancing of its credit score amenities
Greenergy, a UK-based provider of street fuels and a serious European biodiesel producer, has right now introduced the profitable closing of its new Revolving Secured Borrowing Base and Time period Mortgage Facility. Mixed with its current Receivables Buy Facility, this takes Greenergy’s complete credit score amenities to US$1.4 billion.
The refinancing is supported by Greenergy’s mother or father firm Trafigura, and features a new US$500 million Revolving Secured Borrowing Base, offering excessive ranges of flexibility to help Greenergy’s increasing working capital necessities. The Borrowing Base is offered by a syndicate of banks together with Lloyds Financial institution plc, Natixis, Societe Generale, MUFG and NatWest Financial institution Plc.
Along with the borrowing base, Greenergy additionally efficiently closed a US$265m Secured 5-year Time period Mortgage Facility with SMBC Financial institution Worldwide plc, SuMi Belief, MUFG, Societe Generale and Lloyds Financial institution plc.
The brand new financing, mixed with Greenergy’s current Receivables Buy Facility, improves the corporate’s flexibility to pursue new enterprise alternatives and investments, supporting Greenergy in executing long-term progress and enterprise plans and strengthening its place to answer altering and aggressive market situations
Dirk Vanderbroeck, Chief Monetary Officer at Greenergy, stated:
We now have efficiently accomplished our refinancing, and the help acquired from current and new lenders demonstrates their confidence in Greenergy.
“Our new financing phrases strengthens our capital base and locations us in a powerful place to help our progress ambitions in a aggressive business. We are going to concentrate on serving our prospects and pursuing alternatives in new markets.”
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Greenergy closes the refinancing of its credit score amenities, supply
