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Aegean Marine Petroleum Network Inc.
Aegean Marine Petroleum Network Inc. Announces New $300 Million Credit Facility
March 6th, 2009
Aegean Marine Petroleum Network Inc. (NYSE:ANW) announced it has received a commitment letter for a new $300 million senior secured revolving and letter of credit facility. The two-year facility, underwritten by HSH Nordbank AG and The Royal Bank of Scotland plc, is subject to the execution of final documentation. Under the terms of the commitment, the facility will bear interest at LIBOR plus a margin of 0.50% for documentary letters of credit, 1.50% for standby letters of credit and guarantee, and 2.50% for direct borrowings. The facility also has an accordion feature by which Aegean can increase the availability under the facility subject to lender commitments. Upon...
Source: Health Business Week (2009-03-06)
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