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HomeMaritime NewsRegionsEuropeAegean Marine secures $150 credit facility from ABN AMRO

Aegean Marine secures $150 credit facility from ABN AMRO

Aegean Marine secures $150 credit facility from ABN AMRO
Greece-based Aegean Marine Petroleum has secured a $150m uncommitted working capital facility for its subsidiary Aegean Bunkering (USA) from ABN AMRO Capital USA.

The new facility will be used to finance the working capital requirements of Aegean Bunkering (USA), which Aegean Marine recently formed to complete the acquisition of the former US East Coast Bunkering business of Hess Corporation.

“This $150m working capital facility will support our expansion into the US as we continue to execute on our strategy to grow revenues, strategically leverage our fixed infrastructure and drive profitability,” said E Nikolas Tavlarios, president of Aegean Marine.

The global marine fuels supplier has a presence in 22 international markets, and procures product from various sources and resells it to a diverse group of customers across major commercial shipping sectors.

TAGS: Finance & Insurance
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