Fluxys has secured its short-term funding needs at group level by renewing its existing credit facility through an agreement with a club of 5 leading international banks for a 3-year, €500 million syndicated revolving credit line (club deal). This brings the group’s total undrawn credit facilities to an amount of €600 million.
The credit facilities enable the group to move swiftly on investment opportunities and acquisition projects: they provide at pre-agreed conditions direct and certain access to liquidities to bridge the implementation of long-term financings.
The existing club deal of 400M€ would have come to maturity in May 2014. Fluxys took advantage of the current favourable market conditions to anticipate its renewal at attractive prices and conditions.
The bank club is composed of the following Bookrunner Mandated Lead Arrangers: BNP Paribas Fortis, CA-CIB, ING, Mizuho and RBS. These banks have proven their support to the group in the scope of its international development projects in the past and can bring added value to diversify the group’s funding needs.
Walter Peeraer, managing director of Fluxys : “The consortium of BNP Paribas Fortis, CA-CIB, ING, Mizuho and RBS shows a balanced mix of banking partners to support our future development. The new club deal confirms the confidence of the financial institutions and the market in our group’s industrial standing, our financial reliability, and our long-term strategy as gas infrastructure company to bridge the markets and play a vital role in the European market integration process.”
[mappress]
LNG World News Staff, October 30, 2013