World Fuel lifts credit facility to $1.8 billion, extends it to 2024

By Wendy Van Sickle

Columbus, Ohio, July 23 – World Fuel Services Corp. amended its unsecured credit facility, increasing the overall facility to $1.8 billion and extending its term to July 2024, according to a news release issued on Tuesday.

“As a result of this transaction, which was significantly oversubscribed, we have further enhanced our financial flexibility, providing additional low-cost capital to re-invest in our business, execute on strategic acquisitions and return capital to our shareholders,” Ira M. Birns, executive vice president and chief financial officer of World Fuel, said in the release.

“The amended facility also provides immediate cost savings further supporting our ongoing cost management initiatives.”

BofA Securities, Inc., JPMorgan Chase Bank, NA, SunTrust Robinson Humphrey, Inc., TD Bank, NA, HSBC Bank USA, NA and Wells Fargo Securities, LLC were the joint lead arrangers.

Bank of America, NA is the administrative agent.

The fuel logistics company is based in Miami.

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