Addax Energy successfully renews its revolving credit facility

6 June 2025

ADDAX ENERGY SUCCESSFULLY RENEWS AND INCREASES ITS REVOLVING CREDIT FACILITY TO USD 220 MILLION

Addax Energy SA (“Company”) is glad to announce the closing of its committed unsecured Revolving Credit Facility (the “RCF” or the “Facility”) totaling USD 220 million. The Facility was initially substantially oversubscribed and attracted 19 banks from Europe, Middle East and Africa. The Company decided to scale back the commitments to meet its financing requirements.

This new Facility contains a 364-day extension option and includes an accordion feature to increase the Facility size up to USD 250 million. The RCF will be used to support the Company’s short term liquidity requirements related to its trading activity, and benefit from its parent, Oryx Energies SA, guarantee.

Stephen Paris, Oryx Energies Chief Financial Officer, said: “We are very pleased with the successful refinancing of the Revolving Credit Facility and are delighted to have received support from long term and new banking partners, across different regions. This achievement underscores the solid backing of the banking community and its trust in our organisation and activities. We are confident that the Company’s resilient business model combined with an ambitious investment programme, as well as operational excellence and financing expertise, will continue to deliver stakeholder value.”

Guillaume Genet, Global Co-Head of Global Trade at Natixis CIB, said: “We are thrilled to have once again supported Addax Energy in this transaction. This successful operation highlights how the Company continues to excel in an uncertain environment, reflecting the strong relationships and mutual trust built with its banking partners.”

The RCF was arranged by eight Bookrunner & Mandated Lead Arrangers, including CA Indosuez (Switzerland) SA, Commercial Bank of Dubai, ING Bank N.V., Natixis CIB, Nedbank Limited, London Branch, Société Générale, The Standard Bank of South Africa Limited and UBS Switzerland AG.

Natixis CIB served as Syndication Coordinator, joined by Société Générale to act as the second Active Bookrunner. CA Indosuez (Switzerland) SA took on the role of Documentation Agent, while UBS Switzerland AG was appointed as Facility Agent.

The Facility received the support of Oryx Energies existing and new banks, including ABSA Bank Limited, Al Ahli Bank of Kuwait K.S.C.P. (DIFC Branch), Arab Banking Corporation S.A., Banque Cantonale de Geneve, Banque de Commerce et de Placements SA, Banque Internationale de Commerce - BRED (Suisse) SA, Cooperatieve Rabobank U.A., Credit Europe Bank (Suisse) SA, EBI SA Groupe Ecobank, The National Bank of Ras Al-Khaimah (P.S.C.), and Union de Banques Arabes et Françaises.

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