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|18 October, 2018

BB Energy raises $245mln revolving credit facility

The company last year traded about 20 million tonnes of crude oil

Oil and gas industry refinery at sunset. Image for illustrative purposes.

Oil and gas industry refinery at sunset. Image for illustrative purposes.

Getty Images/ Thatree Thitivongvaroon

DUBAI- Trading company BB Energy has raised a $245 million revolving credit facility to refinance existing credit and for general corporate purposes, it said on Thursday.

The company, which was founded in Lebanon in 1937 and has offices in places including London, Singapore, Dubai, Houston, Athens and Beirut, last year traded about 20 million tonnes of crude oil, petroleum products and gas.

Credit Suisse, ING Bank , Natixis and Standard Chartered Bank, as well as UBS and UniCredit Bank, arranged the loan before it was syndicated to a larger group of banks.

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(Reporting by Davide Barbuscia Editing by David Goodman) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))