Trafigura subsidiary Puma Energy has renewed its committed revolving credit facility (RCF) to the tune of US$449mn.

The three-year term loan facility was significantly oversubscribed and upscaled from the US$260mn raised last year. Once again, it will be used for general corporate and working capital purposes.

BNP Paribas, FirstRand Bank, Natixis, Nedbank, Société Générale and Standard Bank acted as mandated lead arrangers and bookrunners on the deal. Other banks joining the deal, and demonstrating a strong global demand, were: Goldman Sachs, ING, National Australia Bank, Banco do Brasil, BGFI International, Garanti Bank, Zenith Bank, Hua Nan Commercial Bank, Bramer Bank, ICICI Bank, Ecobank, Caixa Bank, Federated Project and Trade Finance Core Fund.

According to a statement issued by Puma Energy’s chief financial officer, Denis Chazarain, the firm was pleased to receive support from both new and existing relationship banks.

“Puma Energy’s operations will continue to grow across various segments and we look forward to further identifying and aligning bank interests with these expanding opportunities,” he says.

In March last year Puma Energy closed its debut RCF totalling US$260mn. This too was upscaled from the initial launch amount of US$180mn.

The company’s very first syndicated facility was signed in December (link). It raised US$300mn via a seven-year syndicated facility led by Citi.

Puma Energy is an emerging market-focused oil company acquired by Trafigura in 2000. It currently operates in over 30 countries.