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.


Uni-Fuels Logo. Uni-Fuels advertises for senior bunker trader in Dubai  

Nasdaq-listed firm recruiting for its trading team as it aims to drive growth.

Mineral Europa vessel. Green ammonia bunkered to ammonia-powered bulk carrier in Australian first  

Pilbara Ports, Fortescue and CMB.Tech complete a ship-to-ship ammonia transfer at Port Hedland, supporting plans for a clean fuel bunkering hub in the region.

Sea Change II vessel render. US Coast Guard agrees design framework for hydrogen-fuelled New York ferry  

Switch Maritime and Incat Crowther reach regulatory agreement for a 150-passenger hydrogen fuel cell-electric fast ferry intended for New York's waterways.

Auto Advance vessel. UECC fits WE Tech hybrid power systems on newbuild ro-ro vessels  

Norwegian short-sea operator says battery and shaft generator technology from WE Tech Solutions has cut fuel use and auxiliary engine reliance on three newbuilds.

Terra Clove vessel. Envision's green ammonia used to bunker world's first VLAC  

Chinese energy group supplies vessel owned by Eastern Pacific Shipping as it links production and marine fuel supply chains.

Asia Energy vessel. Wärtsilä converts LNG carrier engines to cut methane slip for Chevron  

Three Chevron-operated LNG carriers have each had one engine converted from dual-fuel to spark gas operation to reduce methane emissions.

Tokyo skyline. Cosulich Marine Energy opens Tokyo office to deepen Japanese market ties  

Fratelli Cosulich's bunker trading arm expands into Japan, building on its 2025 South Korea entry.

TotalEnergies sign outside an office building. TotalEnergies secures five-year LNG supply deal with ADNOC Gas  

Agreement will see ADNOC Gas deliver up to 1.6 million tonnes of LNG to TotalEnergies, with first deliveries expected this year.

Shell flag. Shell seeks senior fuel oil trader to expand Singapore paper trading desk  

Shell is hiring a senior fuel oil trader in Singapore to build proprietary HSFO strategies and expand bunker market relationships.

Frisian Sea vessel. Econowind seeks area sales manager to expand wind-propulsion reach  

Dutch wind-assisted propulsion specialist is recruiting an area sales manager to grow its market presence across a designated geographic region.


↑  Back to Top