Aegean Marine launches syndication of $800 million of revolvers

By Sara Rosenberg

New York, May 28 - Aegean Marine Petroleum Inc. announced in a news release the launch of syndication of $800 million of secured multi-currency revolving credit facilities.

The revolvers are being done on a best efforts basis.

So far, $800 million has been subscribed, subject to satisfactory legal documentation, by eight banks, some of which have an existing relationship with the company. And now the deal is going out for general syndication.

ABN AMRO Bank NV and BNP Paribas are the bookrunning mandated lead arrangers on the deal.

The revolvers include a $100 million 364-day tranche A, a $100 million two-year tranche B and a $600 million uncommitted tranche C.

Proceeds will be used for working capital needs in connection with the purchase, transportation, storage and sale of fuel and gas oil.

Aegean Marine is a Stamford, Conn.-based marine fuel logistics company that markets and physically supplies refined marine fuel and lubricants to ships in port and at sea.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.