Rlpc vitol signs $75 bln loan refinancing

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Oct 7 Swiss energy trader Vitol has signed syndicated revolving credit facilities totalling $7.5 billion, the company announced on Tuesday. The loan is for general corporate purposes, including the refinancing of Vitol's $7 billion financing signed in October 2013. The facilities comprises a $6.45 billion, three-year revolving credit facility with two one-year extension options and a $1.06 billion, 364-day facility with two 364-day extension options.

The financing launched in August for $5.5 billion, raising around $8 billion from the market and subsequently increased.

The financing saw the participation of 55 banks, four of which were new lenders to Vitol. ABN AMRO Bank, Credit Agricole CIB, ING Bank, Societe Generale and UniCredit Bank were active bookrunners on the transaction.

BNP Paribas, Commerzbank, Rabobank International, Credit Suisse, DBS Bank, Deutsche Bank, JP Morgan, Lloyds Bank, Mizuho Bank, Royal Bank of Scotland, Standard Chartered Bank and Sumitomo Mitsui Banking Corp were mandated lead arrangers and bookrunners. JP Morgan Europe is facility agent.