Trammo Inc. reports that it has successfully renewed its revolving credit facility. The $430 million secured facility, with an accordion feature that can permit an increase in total commitments up to $505 million, has been renewed for a period of two years with a syndicate of 10 international banks. Coöperative Rabobank UA, New York Branch, is the administrative and collateral agent, and also serves, together with ABN Amro Capital USA LLC and BNP Paribas, as joint lead arranger and joint book runner.
Trammo said the renewed facility is available for working capital and general corporate purposes to support the company’s commodities trading and distribution businesses around the world. It replaces Trammo’s current credit facility, which was due to expire July 31, 2017.
“Trammo is pleased to have completed the fifth consecutive renewal of its revolving credit facility,” said Trammo CEO Brent Hart. “The renewed commitment from our banking partners allows us to continue to meet the working capital needs of our business and to use our financial strength and flexibility to take advantage of global market opportunities.”