Trammo Extends Syndicated Revolving Credit Facility
Jun 30, 2020
(New York, NY) Trammo, Inc. successfully extended its committed secured revolving credit facility through June 2021 with a syndicate of eight international banks. Coöperative Rabobank UA, New York Branch will serve as Administrative and Collateral Agent, and along with BNP Paribas, will serve as joint lead arranger and joint book runner. Other participating banks include ABN AMRO, ING Belgium, JPMorgan Chase, Zurcher Kantonalbank, HSBC Trinkaus & Burkhardt and Brown Brothers Harriman.
The $200 million secured facility, with an accordion feature that can permit an increase in total commitments up to $275 million, is available for working capital and general corporate purposes in support of Trammo’s commodities trading and distribution businesses around the world. The over-subscribed syndication was a strong indication of the ongoing commitment and support of Trammo’s bank group.
Trammo’s Chief Executive Officer Edward Weiner said: “Trammo is honored to continue our long-term partnership with these world leading financial institutions. We will combine this revolving credit facility with the Company’s substantial equity to maintain its position as a leading global commodity merchandiser engaged in the marketing, trading, distribution and transportation of a wide variety of commodity products.”