Puma Energy closes oversubscribed $350m facility
Puma Energy, the globally integrated midstream and downstream energy company, has closed a US$350 million term loan facility.
Puma Energy´s facility comprises a syndicated US$350 million five-year unsecured amortising term loan facility (“Tranche A”), including an accordion feature of up to US$75 million, and a six-year unsecured bullet term loan facility (“Tranche B”) of up to US$75 million which can be privately placed with institutional investors.
The company believes that the loan “underlines the stability, diversification and cash flow generation of Puma Energy’s vertically integrated fuel distribution platform.”
Tranche A was launched at US$250 million to Puma Energy’s core relationship banks. Following strong support, Tranche A was signficantly oversubscribed and increased to US$350 million
Puma Energy owns and operates a network of 101 storage terminals, with a total capacity of 8.0 million m3, as well as more than 2,500 retail sites in Latin America, Africa and Asia Pacific.
