Baku, November 23, AZERTAC
SOCAR Trading has signed its USD 150,000,000 Revolving Credit Facility. This is the first Revolving Credit Facility for the company and complements its existing syndicated borrowing base and bilateral facilities with over 20 financial institutions. These facilities support SOCAR Trading’s established and continuing global growth strategy.
The Facility was arranged by Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. ("Rabobank") and Societe Generale Corporate & Investment Banking (the corporate and investment banking division of Societe Generale, or "SGCIB" or the “Documentation Agent”) as the Bookrunning Mandated Lead Arrangers (“BMLAs”). The Bank of Tokyo-Mitsubishi UFJ Ltd. (“MUFG”) and Societe Generale act as Issuing Banks and Rabobank as the Facility Agent.
The Facility will have an initial tenor of 12 months and also includes two 364-day Extension Options.
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