Commodity trader BB Energy has signed a US$200mn revolving credit facility (RCF) with 22 banks.

The proceeds of the loan will be used to refinance the US$200mn RCF signed last year and for general corporate and working capital purposes.

The facility, which was initially launched in a limited syndication at US$175mn in August 2016, took on an additional US$25mn after being oversubscribed by 90%. The deal has a tenor of one year and a 364-day extension option.

Commenting on the signing, BB Energy’s CFO Riccardo Greco says: “I am very pleased to see continued support from our core banks and new involvement from other large international lenders. BB Energy is set to achieve further growth in the months and years ahead and we look forward to expanding fruitful interaction with our financing partners.”

Mandated lead arrangers and bookrunners were Credit Suisse, First Gulf Bank, Natixis, Rabobank and Standard Chartered Bank. They were joined by ABN Amro and UBS Switzerland (prior to the launch of the syndication) and Bank of China, Byblos Bank, Société Générale and UniCredit as mandated lead arrangers. New lenders are Commercial Bank of Dubai and ING Belgium, who together with British Arab Commercial Bank and Garanti Bank joined as lead arrangers.