Vitol, the world’s largest energy trader, has closed a US$9.4bn revolving credit facility (RCF) with a total of 57 banks.
The deal includes US$785mn 364-day and US$8.62bn three-year RCFs for Vitol and co-borrower Vitol Finance.
The facilities, which were signed on October 3, were launched at US$7bn in early September, but scaled up “following strong demand”, the company says in a statement.
The proceeds will be used for general corporate purposes and to refinance Vitol’s maturing US$8bn-worth of RCFs signed a year ago.
ABN Amro, Bank of America Merrill Lynch, BNP Paribas, Citi, Commerzbank, Crédit Agricole, Credit Suisse, DBS, Deutsche Bank, HSBC, ING, JP Morgan, Mizuho, Natixis, Santander, Société Générale, SMBC and UBS were mandated lead arrangers and bookrunners, together with Lloyds Bank, MUFG Bank, Rabobank, Standard Chartered and UniCredit, which also acted as bookrunners.
Joining in general syndication were another 34 banks from around the globe. They include KFW Ipex-Bank and Oversea-Chinese Banking Corporation as mandated lead arrangers, and Bank of China, Barclays, Landesbank Baden-Württemberg and National Westminster Bank as lead arrangers.