Asia/Pacific News
Peninsula Renews $320 Million Credit Facility in Singapore
Bunker supplier Peninsula has renewed its $320 million credit facility in Singapore.
The firm increased the size of the facility from $285 million previously, it said in an emailed statement on Thursday. The new facility also comes with an $80 million accordion option, allowing the total size to increase to $400 million if needed.
HSBC arranged the facility, and the firm's lenders are UOB, Citibank, Lloyds, Mashreq Bank and Arab Banking Corporation.
"We are pleased that Peninsula's successful business model, transparency and conservative risk management continues to resonate with our stakeholders and attract the highest quality banking partners," John Bassadone, CEO of Peninsula, said in the statement.
"Our track record in securing committed funding and further diversifying our banking portfolio puts the group in a very strong position to deliver and exceed our strategic objectives ahead of time, especially as the group has already outlined its commitment to the ESG agenda in our sector."
