Puma Energy successfully refinances US$ 730 m RCF

Puma Energy, the global mid and downstream energy company, has announced the successful closing of its new one-year Revolving Credit Facility (“RCF”) totalling US$ 400 million in addition to extending and increasing its three-year Revolving Credit Facility to US$ 330 million.

Facility highlights:

• New US$ 400 million one year RCF: Following strong global demand from banks across six continents, the new RCF was oversubscribed to more than US$ 580 million which were subsequently scaled back by the company

• Existing US$ 270 million three year RCF: US$ 245 million was extended by one year to 2020. In addition, new commitments of US$ 85 million were added via the accordion feature from six new banks

Denis Chazarain, Chief Financial Officer for Puma Energy said: “For the sixth consecutive year, the market has responded to Puma Energy with continued support for our business model. Existing Banks supported the extension of our three year facility and we are very satisfied with the arrival of six new banks into this facility bringing an additional US$85 million of three year money. This fits our strategy of extending bank loan maturity. We are well positioned with strong liquidity and balanced maturity profile.”

Puma Energy’s Global Head of Corporate Finance and Treasury, Dirk-Jan Vanderbroeck said: “We appreciate the support we continue to enjoy from our existing bank relationships as well as from our new banking partners from all regions. We look forward to building equally strong foundations with them. We were particularly pleased with the confidence in our medium to long term strategy, as shown by the significant acceptance levels of our extension request for the three year RCF.”

The deal was led by 13 Mandated Lead Arrangers and Bookrunners, including Australia and New Zealand Banking Group Limited, Bank of America Merrill Lynch International Limited, The Bank of Tokyo-Mitsubishi UFJ, Ltd, Coöperatieve Rabobank U.A., trading as Rabobank London, Emirates NBD Capital Limited, FirstRand Bank Limited (acting through its Rand Merchant Bank Division), Industrial and Commercial Bank of China (Europe) S.A., Amsterdam Branch, Industrial and Commercial Bank of China Limited, London Branch, ING Bank N.V., Natixis, Nedbank Limited, London Branch, Société Générale Corporate & Investment Banking (the Corporate and Investment Banking Division of Société Générale), The Standard Bank of South Africa Limited (acting through its Corporate and Investment Banking Division) and UniCredit Bank AG.