Euromar Commodities and Transmar Switzerland, members of Transmar Group, have signed their first syndicated international borrowing base facility for €125mn.
Commerzbank acted as mandated lead arranger, with the Bank of Tokyo-Mitsubishi UFJ and KfW Ipex-Bank as lead arrangers. The Frankfurt office of law firm Allen & Overy acted as legal advisor to the lenders.
Initially launched at €120mn, the transaction was oversubscribed and increased by €5mn. The facility will be used to assist Euromar and Transmar Switzerland in meeting their working capital financing needs for the next three years as well as providing a basis for sustaining their growth.