BB Energy closes upsized $500 million senior secured revolver

By Marisa Wong

Los Angeles, Nov. 8 – BB Energy successfully closed a $500 million senior secured revolving borrowing base credit facility, according to a press release.

Based on an initial launch size of $450 million, the facility was oversubscribed with commitments from a diverse group of eight lenders.

The facility also has embedded a $150 million accordion feature available to support future growth.

ING Capital LLC acted as joint lead arranger and bookrunner and will act as administrative agent. Natixis acted as joint lead arranger and Citibank, NA as cash management bank.

The deal is the first U.S. digital borrowing base achieved by BB Energy through a partnership with Komgo, a Swiss-based fintech owned by a number of major trade finance institutions and ING, the release noted.

BB Energy is an energy trading company based in Dubai, United Arab Emirates.

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