Bunker Holding secures $625 million loan facility
Danish bunker trading group Bunker Holding A/S (Bunker Holding) announced today it has secured a new three year committed loan facility totaling $625 million, including a trade receivables purchase facility, Ship & Bunker reports.
The facilities are a 50% increase from existing facilities, the emailed statement said, and would secure the funding of the future growth of the group.
"We are happy to announce these facilities, which we have entered into with banks we have been working with for many years. The increased financial capabilities under this new financing programme will support our working capital requirements during the future expansion and growth," commented Bunker Holding's Group CFO Jesper Klokker Hansen.
The loan facilities have been established with a group of banks including Germany's Deutsche Bank, and Danish banks Danske Bank, Nordea Bank, and Jyske Bank.
Bunker Holding says it is the second largest bunker trading company in the world with subsidiaries in 23 countries, and 2011 revenues of $12.4 billion.
