Vitol has closed syndicated revolving credit facilities (RCF) totalling US$8bn.

The facilities include a US$7.08bn three-year revolving credit facility with two 12-month extension options and a US$924mn 364-day tranche with two 364-day extension options. The loan will be used for general corporate purposes and to refinance the company’s US$7.5bn debt package signed in October last year.

The transaction was launched on August 24, 2015 at US$6bn and was oversubscribed, with a total of 57 banks (including seven new banks) joining.

ABN Amro, Crédit Agricole, Lloyds, Rabobank and UniCredit participated as active bookrunners and mandated lead arrangers (MLAS). Bank of America Merrill Lynch, The Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citigroup, Commerzbank, Credit Suisse, DBS, Deutsche Bank,  HSBC, ING, JP Morgan, Mizuho, The Royal Bank of Scotland, Société Générale, Standard Chartered, and Sumitomo Mitsui Banking Corporation acted as bookrunners and MLAs. JP Morgan also acted as agent.