Aegean Marine Petroleum Secure US$1-billion Credit Facility

MarineLink.com
Wednesday, September 25, 2013

Aegean Marine Petroleum Network Inc. state they will make use of this line of credit for working capital in connection with the purchase, transportation, storage and sale of fuel and gas oil.

"These facilities significantly enhance our financial flexibility and will help support Aegean's continued ability to expand our global market share while achieving profitable revenue growth," said E. Nikolas Tavlarios, President of Aegean. "We believe our liquidity and strong balance sheet are key differentiators that create significant competitive advantages. We are pleased to have achieved this important milestone."

Spyros Gianniotis Aegean's Chief Financial Officer added, "We are pleased that eight of the 13 banks participating in the facilities are new to our bank group.  We appreciate the ongoing support from our lenders and their confidence in our ability to continue to execute our strategy."

The facilities were arranged by the Active Bookrunning Mandated Lead Arrangers, ABN AMRO and BNP Paribas. ABN AMRO also acted as Coordinator and Agent.

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