Global integrated supplier of marine fuels Peninsula Petroleum has reportedly acquired an additional $150 million worth of liquidity ahead of IMO 2020 through renewing its current credit facilities with European banks.
The company’s total liquidity, available to its international offices including Singapore, is now worth over $700 million.
The banks RBS, BNP Paribas, Santander, Societe Generale and HSBC are current financial instiuutions support Peninsula Petroleum’s credit facilities; $100 million has been added to the company’s credit facilities, now totalling $350 million.
Lloyds Bank is the latest participant contributing to Peninsula Petroleum’s credit facility.
“We are also pleased to see Lloyds join the European syndicate and UniCredit providing financing solutions for our inventory locations,” said John A. Bassadone, CEO of Peninsula.
“Peninsula’s transition into a global, integrated bunker supplier is more relevant than ever in the context of 2020 and the opportunities it brings for our worldwide platform.
“We look to the future with enhanced optimism and confidence alongside out banking partners,” he added.
Photo credit: Peninsula Petroleum
Published: 26 April, 2019
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