DOHA: Arab Petroleum Investments Corporation (Apicorp), the multilateral development bank owned by the 10 nations of the Organisation of Arab Petroleum Exporting Countries (Oapec), and Natixis, the corporate, investment management and financial services arm of Paris-based Groupe BPCE, have been appointed to syndicate in GCC and the international bank market a two-year $200m syndicated loan for Glencore Energy UK (Glencore). Syndication was launched on January 21.
The loan will finance pre-payment for Glencore’s purchase of oil products from Morocco-based petroleum refinery Societe Anonyme Marocaine de l’Industrie du Raffinage (Samir). The loan facility has been structured around a prepayment agreement based upon a commercial contract signed between Glencore and Samir under which Samir will export part of its Naphtha and Jet Fuel production to Glencore.
Ahmad bin Hamad Al Nuaimi, Apicorp’s CEO and GM said: “We are pleased to partner with Glencore and Samir to bring this exciting transaction to the GCC market. This is a landmark deal that required Glencore’s marketing capabilities in addition to the high quality of Samir’s refining operations.
“It is also the result of our strong cooperation with Natixis, widely recognised for its international expertise in commodity finance.”
http://thepeninsulaqatar.com/qatar-business/223665-apicorp-natixis-to-syndicate-200m-loan-for-glencore-samir.html
The loan will finance pre-payment for Glencore’s purchase of oil products from Morocco-based petroleum refinery Societe Anonyme Marocaine de l’Industrie du Raffinage (Samir). The loan facility has been structured around a prepayment agreement based upon a commercial contract signed between Glencore and Samir under which Samir will export part of its Naphtha and Jet Fuel production to Glencore.
Ahmad bin Hamad Al Nuaimi, Apicorp’s CEO and GM said: “We are pleased to partner with Glencore and Samir to bring this exciting transaction to the GCC market. This is a landmark deal that required Glencore’s marketing capabilities in addition to the high quality of Samir’s refining operations.
“It is also the result of our strong cooperation with Natixis, widely recognised for its international expertise in commodity finance.”
http://thepeninsulaqatar.com/qatar-business/223665-apicorp-natixis-to-syndicate-200m-loan-for-glencore-samir.html
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