- BGN closes major syndicated finance facility of almost half a billion USD
- The unique structure of the deal is the ‘first of its kind‘ for the sector
- The deal is backed by top tier global banks, demonstrating BGN’s financial strength and strong lender confidence in BGN’s growth strategy
BGN, one of the top ten independent energy and commodities trading groups, today announced the successful closing of a major USD $450 million syndicated LPG finance facility.
The transaction represents a significant milestone for the company, featuring a uniquely structured financing package regarded as the first of its kind in the sector. The facility is expected to deliver operational efficiencies and favorable financing terms for BGN and its suppliers.
The deal is backed by leading international commodity banks, underscoring strong lender confidence in BGN’s growth strategy and trading strength.
This landmark facility further reinforces BGN’s position in the global LPG market and highlights its ability to secure innovative, large-scale financing solutions in a competitive environment.
Lead banks are; Coöperatieve Rabobank U.A, Crédit Agricole Corporate and Investment Bank and Natixis CIB, each Bookrunning Mandated Lead Arranger, and acted as exclusive Bookrunners and Arrangers of the Facility
Coöperatieve Rabobank acted as Facility and Security Agent
Natixis CIB acted as Documentation Agent
Coöperatieve Rabobank and CA Indosuez (Switzerland) SA acted as Issuing banks.
The participating banks include: Raiffeisen Bank International AG, Société Générale, First Abu Dhabi Bank and Bank of China acting as Mandated Lead Arranger and Garantibank International N.V. acting as Lead Arranger.
Deia Markova, BGN Executive Director, Finance, ESG & Strategy said:
’We are pleased to have closed this innovative finance facility of almost half a billion USD, with the backing of top tier global banks. The way we structured the facility ‘is the first of its kind’ and we received a strong appetite from lenders to participate. The deal will provide essential liquidity to enable BGN to scale up its global LPG trading and shipping operations, in line with our wider growth plans.’
Rui Florencio, BGN Chief Financial Officer added:
‘Not only is the structure of this finance facility unique, but we closed it in a challenging geo-political and high price environment. This again demonstrates the level of trust and confidence our financial partners place in BGN’s business model and growth strategy.’
Sebastiaan Wijnen, Coöperatieve Rabobank Coverage Banker Energy & Metals Traders said:
‘We congratulate BGN and all the participating banks on the closing of this landmark facility. We are very proud to support our client BGN as a trusted financial partner, in a syndicated facility that enables the growth of BGN’s global LPG strategy and trading activity.’
BGN is one of the world’s leading LPG traders, accounting for around 10% of global trade flows and operating one of the largest LPG shipping fleets in the sector. The deal underpins BGN’s expansion plans and strategy to grow its business with a focus on transition fuels such as LPG and LNG, as well as investments in upstream mining operations, and critical metals and minerals essential for the energy transition.
