This is a legacy page. Please click here to view the latest version.
Wed 24 Jul 2019, 09:31 GMT

World Fuel Services ups credit facility to $1.8bn


Terms extended to July 2024.


Image credit: World Fuel Services
World Fuel Services Corporation has announced that it has amended its unsecured credit facility, increasing the overall facility to $1.8bn and extending the terms to July 2024.

"As a result of this transaction, which was significantly oversubscribed, we have further enhanced our financial flexibility, providing additional low-cost capital to re-invest in our business, execute on strategic acquisitions and return capital to our shareholders," stated Ira M. Birns, executive vice president and chief financial officer of World Fuel Services Corporation. "The amended facility also provides immediate cost savings further supporting our ongoing cost management initiatives."

Glenn Klevitz, vice president, treasurer and investor relations, remarked: "We truly appreciate the commitment and support we have received from our banking partners and their continued confidence in World Fuel's overall financial strength and future growth opportunities."

Bank of America, N.A. has acted as the administrative agent in connection with the transaction, whilst BofA Securities, Inc., JPMorgan Chase Bank, N.A., SunTrust Robinson Humphrey, Inc., TD Bank, N.A., HSBC Bank USA, National Association, and Wells Fargo Securities, LLC, have served as joint lead arrangers.


Oriental Aquamarine vessel. HMM deploys Korea's first MR tanker with wing sail technology  

Oriental Aquamarine equipped with wind-assisted propulsion system expected to cut fuel consumption by up to 20%.

BC Ferries vessel render. ABB to supply hybrid-electric propulsion for BC Ferries' four new vessels  

Technology will enable ferries to run on biofuel or renewable diesel with battery storage.

Alternative marine fuels port graphic. LNG-fuelled boxships sustain alternative fuel orderbook share despite market slowdown  

Alternative fuels maintained 38% of gross tonnage orders in 2025, driven by container segment.

Conceptual diagram of the MOL–ITOCHU strategic alliance. MOL and ITOCHU sign MoU for cross-industry environmental attribute certificate partnership  

Japanese shipping and trading firms to promote EACs for reducing Scope 3 emissions in transport.

CPN as China's No. 1 marine biofuel supplier in 2025 graphic. Chimbusco Pan Nation delivers 170,000 tonnes of marine biofuel in China in 2025  

Supplier says volumes quadrupled year on year, with a 6,300-tonne B24 operation completed during the period.

V.Group and Njord logo side by side. V.Group acquires Njord to expand decarbonisation services for shipowners  

Maritime services provider buys Maersk Tankers-founded green technology business to offer integrated fuel-efficiency solutions.

Container vessel manoeuvring in port. Has Zhoushan just become the world's third-largest bunker port?  

With 2025 sales of 8.03m tonnes for the Chinese port, Q4 data for Antwerp-Bruges will decide which location takes third place.

Monjasa Oil & Shipping Trainee (MOST) trainees. Monjasa opens applications for global trainee programme  

Marine fuel supplier seeks candidates for MOST scheme spanning offices from Singapore to New York.

Singapore's first fully electric harbour tug. Singapore's first fully electric tug completes commissioning ahead of April deployment  

PaxOcean and ABB’s 50-tonne bollard-pull vessel represents an early step in harbour craft electrification.

Fuel for thought: Hydrogen report cover. Lloyd's Register report examines hydrogen's potential and challenges for decarbonisation  

Classification society highlights fuel's promise alongside safety, infrastructure, and cost barriers limiting maritime adoption.


↑  Back to Top