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Addax Energy clôture avec succès sa 1e facilité de crédit renouvelable

5 juillet 2024

Communiqué en anglais uniquement

Addax Energy SA (“Company”) is glad to announce the closing of its inaugural committed unsecured Revolving Credit Facility (the “Inaugural RCF” or the “Facility”) totaling USD 195 million. The Facility was substantially oversubscribed and upsized from its initial launch amount of USD 125 million. It attracted 15 existing and new relationship banks.

This new Facility contains a 364-day extension option and includes an accordion feature to increase the Facility size up to USD 225 million. The Inaugural RCF will be used to support the Company’s short term trade finance requirements and benefit from its parent, Oryx Energies SA, guarantee.

Stephen Paris, Oryx Energies Chief Financial Officer, said: “We are extremely proud to have successfully closed our Inaugural RCF. This landmark transaction will strengthen our liquidity, our financing capabilities and complement our existing bilateral facilities and syndicated borrowing bases already totaling USD 3.5 billion. It demonstrated the strong support of our existing and new banking partners for our business and their confidence in our organisation and financial standing. We would like to take this opportunity to thank all of them for their trust.”

The RCF was arranged by five Bookrunner & Mandated Lead Arrangers, including CA Indosuez (Switzerland) SA, ING Bank N.V., Natixis CIB, Société Générale and UBS Switzerland AG.

Société Générale acted as Syndication Coordinator, joined by Natixis CIB and ING to act as the three Active Bookrunners. Natixis CIB acted as Press and Information Memorandum Agent, CA Indosuez (Switzerland) SA acted as Documentation Agent and UBS Switzerland AG acts as Facility Agent.

The Facility received the support of Oryx Energies existing and new banks including also, Arab Banking Corporation S.A., Banque Cantonale de Geneve, Banque de Commerce et de Placements SA, Banque Internationale de Commerce - BRED (Suisse) SA, Credit Europe Bank (Suisse) SA, Ecobank International SA, Nedbank Limited, London Branch, The National Bank of Ras Al-Khaimah, The Standard Bank of South Africa Limited and Union de Banques Arabes et Françaises.

Téléchargez le communiqué (en anglais uniquement) :

PR-Addax-Energy-closes-inaugural-revolving-credit-facility-20240705.pdf