Bunker Holding Sees 50% Boost to Loan Facility, Brings Total Group Funding Over $1 Billion

Bunker Holding says it has gained a new loan facility valued at $650 million.

Bunker Holding A/S (Bunker Holding) today announced in an emailed press release it has obtained a new loan facility valued at $650 million, increasing the group's overall financing facilities by 50 percent and bringing the group's accumulated funding to over $1 billion.

"The extension of our loan facility was planned to take place this year, and we are very pleased to present the outcome that not only supports the funding of the future growth of the Bunker Holding Group but also represents a 50 percent increase in volume compared to our existing
facilities," said Jesper Klokker Hansen, CFO for Bunker Holding.

"In light of the past turmoil in our industry we are quite satisfied to announce such a strongly increased loan facility."

Bunker Holding says the new $650 million committed and unsecured loan facility covers a five-year period with options to increase it up to 35 percent, and has been established in cooperation with eight international banks, led by Deutsche Bank AG (Deutsche Bank).

"We are delighted in entering into this facility with new banks as well as banks we have been working with for many years," commented Klokker Hansen.

"Raising the new unsecured financing facility with only eight banks shows great confidence in our group and our business model."

The eight banks are said to include Deutsche Bank, Nordea Bank AB, Danske Bank, HSBC, Jyske Bank A/S, Norddeutsche Landesbank, DZ Bank AG, and Nykredit Bank.

"As part of our current strategy implemented in May 2014 we are active on several fronts. We continue the organic growth with the existing units adding new customers, employees and offices," explained Keld R. Demant, Bunker Holding CEO.

"In addition, a number of new activities are well on their way to complement our traditional business as bunker trader.

"For competitive reasons we cannot mention the activities, but we will definitely play an even greater role in the industry in the future."

In July, Bunker Holding said that the acquisition of LQM Petroleum Services Inc. (LQM) was a "logical step" that "diversifies Bunker Holding beyond trading."