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Wed 8 Sep 2010, 13:43 GMT

WFS completes $800m credit facility


World Fuel Services says it has successfully amended and restated its existing credit facility.

Leading marine, aviation and land fuel specialist World Fuel Services Corporation has today announced that it has successfully amended and restated its existing credit facility.

The amended and restated credit facility allows for borrowings of up to $800 million and is scheduled to mature in September 2015.

Commenting on the credit facility, Ira Birns, Executive Vice President and Chief Financial Officer, said: "We substantially increased the size of our credit facility and extended the maturity to 2015, reflecting our financial strength and the confidence of our lenders in World Fuel Services.

"The amended and restated credit facility provides increased liquidity available to support our continuing strategic growth initiatives," added Birns.

Bank of America Securities, LLC, Wells Fargo Securities LLC and HSBC Bank USA served as joint lead arrangers and joint book managers in connection with the amended and restated credit facility.

"The facility was heavily oversubscribed and includes banks with an extensive global footprint," World Fuel Services said.

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