Arcadia Energy taps syndicated loan market
Commodity trader Arcadia Energy has launched a US$245mn revolving credit facility into the syndication market.
The company has appointed ABN Amro Bank, BNP Paribas, Crédit Agricole, ING Bank, Rabobank International, Société Générale and Standard Chartered Bank as bookrunning mandated lead arrangers on the deal.
The 364-day revolving credit facility is guaranteed by Farahead Holdings and Farahead Investments.
Proceeds from the loan will be used to refinance Arcadia Energy’s US$280mn revolving credit facility from November 3, 2011, as well financing its working capital requirements, the company says in a statement.