Vitol S.A. (“Vitol” or the “Company”) is pleased to announce the successful signing of its syndicated revolving credit facilities (the “Facilities”) totaling USD 7.5 billion.
The new Facilities include a USD 6.45 billion 3-year revolving credit facility with two 12-month extension options and a USD 1.06 billion 364-day tranche with two 364-day extension options. The Facilities will be used for general corporate purposes and to refinance the Company’s USD 7 billion debt package signed in October 2013.
The transaction launched on 26th August 2014 at USD 5.5 billion and was oversubscribed to approximately USD 8 billion. In total, 55 banks (including four new banks) joined the Facilities.
The transaction was led by ABN AMRO Bank N.V., Crédit Agricole Corporate and Investment Bank, ING Bank N.V., Société Générale Corporate & Investment Banking and UniCredit Bank AG as Active Bookrunners & Mandated Lead Arrangers, as well as BNP Paribas, Commerzbank Aktiengesellschaft, Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (trading as Rabobank International), Credit Suisse AG, DBS Bank Ltd., Deutsche Bank AG, J.P. Morgan Limited, Lloyds Bank plc, Mizuho Bank Ltd, The Royal Bank of Scotland plc, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation as Bookrunners & Mandated Lead Arrangers. J.P. Morgan Europe Limited is Agent.
Vitol is the world’s largest independent energy trader. The Company, established in 1966 with the focused aim of trading oil and oil products, has rapidly grown into a broad group of complementary businesses engaged in a variety of commodity and energy-related activities.
Vitol has strategically expanded its scope of business operations over the past forty-eight years through vertical integration and product diversification to create a globally diversified company.Throughout its development, Vitol has remained focused on the primary business of physical distribution and trading of crude oil, petroleum products and natural gas. In recent years, the Company has expanded the energy trading platform to include coal, power, and carbon emissions. In 2013, Vitol commenced agriculture commodity trading; this activity remains very small.
Vitol operates from an extensive network of international locations with close to 40 offices worldwide. Its global presence includes the Company’s headquarters in Rotterdam and Geneva, and other significant offices in London, Houston, Bahrain, Singapore and Moscow.
Tel +44 20 7973 4230