Preem signs SEK 3 billion loan with Swedish Export Credit

By Mary-Katherine Stinson

Lexington, Ky., April 25 – Preem AB signed a SEK 3 billion loan agreement with Swedish Export Credit Corp., according to a release on Monday.

The green loan has a tenor of seven years and is guaranteed by the Swedish National Debt Office with a green credit guarantee that covers 80% of the loan amount.

The proceeds are earmarked for the reconstruction of the company’s Lysekil refinery regarding the reconstruction of the so-called Synsat plant, which today produces diesel, but will be reconfigured to produce biodiesel based on renewable raw materials.

The company’s total cost for the project is SEK 3.525 billion.

The loan is conditional on approval from the company’s other lenders and on obtaining the necessary environmental permits from the Swedish Land and Environmental Court.

Preem is the direct, wholly owned subsidiary of Corral Petroleum Holdings AB, an oil refining company.

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