Aegean Marine Petroleum Network signs new $750 million revolver

By Tali Rackner

Minneapolis, Nov. 30 – Aegean Marine Petroleum Network Inc. signed a new $750 million secured global borrowing base multicurrency revolving credit facility, according to a company new release.

The three-year revolver includes a $250 million accordion option and replaces the existing $1 billion one-year facility.

In addition to the company’s $250 million secured U.S. borrowing base revolving credit facility, which was renewed earlier this year, the global borrowing base is expected to finance the global working capital needs.

Seven of the nine participating lenders updated their commitments to Aegean at improved terms and increased tenor with two new banks joining the facility, the release said.

The global borrowing base was arranged by ABN AMRO as active bookrunning mandated lead arranger. ABN AMRO acted as agent.

Aegean is a marine fuel logistics company based in Piraeus, Greece.

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