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.


VPS logo. NE Atlantic ECA will cause significant change to the current fuel mix | Steve Bee, VPS  

The possibility of off-spec issues highlights the continuing need for proactive fuel testing to protect vessels.

Kris Vedat, SmartSea. Smart ships failing to convert data into actionable intelligence, warns SmartSea  

Maritime technology firm claims vessels collect vast amounts of data but lack integration to support decision-making.

Energy Transition Outlook 2026 Hydrogen To 2060 report cover. DNV forecasts 100-fold growth in clean hydrogen by 2060, with China leading expansion  

Classification society projects $3.2tn investment in hydrogen sector, with maritime accounting for 15% of clean hydrogen use.

World Shipping Council logo. Dual-fuel container ship and vehicle carrier fleet surpasses 1,200 vessels  

World Shipping Council reports 65% year-on-year increase in operational dual-fuel vessels to 440 ships.

Sotiris Raptis, ECSA. European Shipowners calls for ETS revenue investment and fuel supplier mandate  

ECSA urges the EU to invest €9bn in annual ETS revenues in fuel production and infrastructure.

Sheen Mao Choong, SSA. Singapore bunker industry urged to prioritise resilience and collaboration  

SSA committee vice chair highlights energy security and crisis readiness at Marine Fuels Forum 2026.

Chia How Khee, TFG Marine and David Foo, MPA. TFG Marine receives bunker safety award from Singapore maritime authority  

Marine fuel supplier recognised for safety standards and operational performance at MPA Marine Fuel Forum.

Rotterdam skyline at night. Bunker surveyor sought in Rotterdam to meet increased demand  

Dutch firm MCE Marine Surveyors is recruiting for a quantitative fuel inspection role.

Emma Roberts, BHP. GCMD highlights BHP biofuel trials to address scaling challenges in maritime decarbonisation  

Mining company discusses need for traceability and coordinated progress across supply, cost and operational readiness.

Levante LNG vessel. Peninsula implements energy efficiency measures across bunker supply fleet  

Marine fuel supplier focusing on data-driven upgrades and operational measures to cut consumption.


↑  Back to Top