BB Energy has inked a one year, US$272.5mn “flagship” revolving credit facility with a number of international banks.
The facility has an accordion option of US$400mn and a one-year optional extension. It will be used to refinance a maturing facility signed in July 2025, as well as for general corporate purposes, the commodities trading firm said.
Launched in primary syndication at US$225mn on May 14, the facility was oversubscribed by 21% and attracted 21 lenders. The deal is substantially smaller than the equivalent facility last year, which closed at US$375mn.
The bookrunner mandated lead arrangers were Abu Dhabi Commercial Bank, Crédit Agricole CIB, First Abu Dhabi Bank, ING, Mashreqbank, Natixis CIB, Nedbank CIB’s London branch, Société Générale and UBS.
Absa, Afrasia Bank, National Bank of Fujairah, Standard Bank and the State Bank of Mauritius were mandated lead arrangers, and HSBC UK was a lead arranger.
Banca UBAE and GarantiBank International were arrangers, and ABC International, BIC-BRED (Suisse), Erste Group and Raiffeisen were co-arrangers.
Banca UBAE, HSBC and Standard Bank joined the new facility as early birds ahead of the bank meeting, the firm said.
Société Générale was also syndication coordinator, ING was documentation agent and facility agent, while Abu Dhabi Commercial Bank, Crédit Agricole, Natixis and First Abu Dhabi Bank were active bookrunners of the new transaction.
BB Energy said the banking pool contained a “a well-diversified group of leading banks from the US, Europe, the Middle East, Africa and Asia”.
Jacques Erni, BB Energy’s chief financial officer, said: “This successful outcome was achieved following challenging market conditions in 2025 and reflects the group’s very strong performance so far in 2026.
“The group is pursuing a refocused growth strategy across its existing and new business units and product lines, while maintaining balance sheet strength and a continued commitment to financial discipline and good governance.”
Erni thanked the firm’s relationship banks, which he said had “enabled us to strengthen our financing lines and support our growth plans”.
Dominique Legris, head of origination of global trade and commodities at CA Indosuez (Switzerland), added: “Over the past year, BB Energy has managed to navigate a challenging market environment characterized by the unprecedented combination of geopolitical tensions, conflict situations and trade tariffs.
“The link between BB Energy and the banking community remains strong thanks to the permanent effort by the BB Energy team to maintain an open and transparent dialogue with its banking partners.”
BB Energy has also been embroiled in a legal battle to secure crude oil cargoes it is owed by South Sudan.
The trader recently agreed to relax an injunction preventing South Sudan from accepting advance payment for crude oil after it was awarded a total of four cargoes by the country.
The relaxation of the injunction will last until the end of November 2026, when the final cargo is due to be delivered.
