Arcadia signs oversubscribed RCF
Singapore-based oil company Arcadia Energy has signed a US$305mn, 364-day revolving credit facility (RCF) with a consortium of international banks.
Launched at US$245mn, the syndication was oversubscribed by US$60mn.
Bookrunning mandated lead arrangers are ABN Amro, BNP Paribas, Crédit Agricole Corporate and Investment Bank (CIB), ING Bank, Rabobank, Société Générale CIB and Standard Chartered. The loan also includes seven other financial institutions from Asia, the Middle East and Europe.
The facility is guaranteed by Farahead, Arcadia’s parent company. It will be used for the refinancing of the US$280mn RCF signed on November 3, 2011, as well as the financing of its working capital requirements.