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.


Kota Ocean vessel. PIL hiring head of marine fuel procurement in Singapore  

Role requires at least 10 years’ experience in bunkering, shipping or energy sectors.

Arctic Tern and Hai Gang Zhi Yuan STS bunkering operation. EUKOR’s new car carrier completes first biomethanol bunkering at Shanghai on maiden voyage  

EUKOR, SIPG Energy and World Fuel deliver 2,800 tonnes of waste-derived biomethanol to the first Shaper Class vessel.

Peninsula logo. Peninsula seeks bunker sales trader for Dubai office  

Firm says role would suit candidate with previous trading experience, ideally within the bunker sector or maritime industry.

Valencia waterfront. Glander International Bunkering seeks trader for Valencia office  

Marine fuels company is recruiting a sales-focused professional for its Spanish operations.

Kwan-Ho Song, Nikolas Vaporis and Joe Borg. Capital Ship Management, K Shipbuilding and LR launch wind-assisted propulsion project for MR tanker sector  

Joint development project will assess wind-assisted propulsion for 50,000-dwt product tankers.

Clare Urmston, Anemoi Marine Technologies. Bureau Veritas approvals extend classification society coverage for Anemoi Rotor Sail range  

Anemoi's full Rotor Sail portfolio is now approved by four major classification societies.

Proteus Supply and Trading and Propeller Fuels logo. Propeller Fuels and Proteus Supply and Trading form commercial partnership to expand Americas coverage  

US-based Proteus and UK-based Propeller Fuels unite operations across the Americas and beyond.

Kasif Kalkavan vessel. Turkon Line’s LNG-powered Kaşif Kalkavan makes maiden call at Marport  

Türkiye’s largest domestically built LNG-fuelled container ship has docked at Marport for the first time.

Vinoth Kumar, Flex Commodities. Flex Commodities appoints Vinoth Kumar as general accountant  

Dubai-based bunker trader strengthens finance team with new accounting hire.

Kota Elok vessel. PIL's first LNG dual-fuel boxship receives cybersecurity certification on Singapore maiden call  

Pacific International Lines' 13,000-teu vessel Kota Elok becomes the first PIL ship certified to IACS cyber-resilience standards.


↑  Back to Top