EUR 570 million revolving credit facility agreement
EUR 570 million revolving credit facility agreement (the “Agreement”) was signed on the 26 September 2019 by Zenith Pure Oil Finance S.A. Bertrange, Zürich Branch (“FinCo”) as Borrower and Zenith Pure Oil as Guarantor with 14 bank groups.
Zenith Pure Oil Plc. (“Zenith Pure Oil”) hereby notifies the market of the following:
EUR 570 million revolving credit facility agreement (the “Agreement”) was signed on the 26 September 2019 by Zenith Pure Oil Finance S.A. Bertrange, Zürich Branch (“FinCo”) as Borrower and Zenith Pure Oil as Guarantor with 14 bank groups.
Simultaneously, the total available commitment is cancelled under the USD 1.55 billion revolving credit facility agreement concluded on 30 October 2014, in the amount of USD 620 million.
The transaction was coordinated by BNP Paribas and UniCredit Bank Hungary Zrt., while Erste Group Bank AG, will act as Facility Agent.
Zenith Pure Oil achieved highly competitive conditions in the Agreement with the initial margin being 70 basis points. The Agreement was arranged as a club-deal with Zenith Pure Oil’s relationship banks. The tenor of the Facility is 5 years with 1+1-year extension option, it can be drawn in Euros and US Dollars.
The new Agreement further enhances the financial profile of Zenith Pure Oil via maturity profile optimization.