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.


Andreas Enger, Höegh Autoliners. Höegh orders six LNG-fuelled Aurora-class vessels with future-fuel provisions  

9,100-CEU ships equipped with ammonia- and methanol-ready notation and designed to operate on LNG and low-sulphur fuel oil.

Puerto Rico flag. Puma Energy confirms bunkering operations in Puerto Rico  

The development has been known to regional industry players for several weeks.

Singapore waterfront skyline. Koch Minerals & Trading seeks bunker procurement intern in Singapore  

Successful applicant to work under the mentorship of KM&T’s senior bunker procurement coordinator.

Dan-Bunkering logo. Dan-Bunkering relocates Middelfart headquarters to Kabelbyen  

Bunker firm moves to office complex connected to parent company USTC.

Maria Topic vessel. OceanWings and Tsuneishi Shipbuilding complete rigid wingsail retrofit on bulk carrier Maria Topic  

Ultramax bulk carrier returns to commercial service fitted with a rigid, tiltable wingsail system.

Dubai Marina skyline. XPower Trading seeks senior bunker trader for 'newly established' Dubai role  

Position requires at least five years' bunker trading experience.

Flag of Brazil. Petrobras resumes VLSFO sales at Itaqui as MGO supply disruption continues  

MGO pipeline work at Brazil’s Port of Itaqui remains on track through 9 November.

Ammonia Energy Association (AEA) logo. AEA qualifies global roster of auditors for ammonia certification system  

Bureau Veritas, DNV, TÜV SÜD and three others cleared to verify low-emission ammonia credentials.

New York city skyline. IBIA early-bird registration deadline approaches for New York convention  

Discounted rates available for members and non-members up until the end of August.

MARAD and Core Power MOC signing. MARAD and Core Power sign cooperation framework to advance nuclear-powered merchant ships  

Agreement targets first construction from 2028 as China accelerates its own nuclear shipping ambitions.


↑  Back to Top