KGS-Alpha Capital Markets, L.P. (KGS) is pleased to announce the closing of Aegean Marine Petroleum Network Inc.’s AED $440 million (USD $120 million) credit facility for its wholly-owned subsidiary Aegean Oil Terminal Corporation in Fujairah, U.A.E. KGS acted as the exclusive financial advisor for the facility.
The United Arab Bank, Abu Dhabi Commercial Bank, Commercial Bank of Dubai, and the National Bank of Oman participated in the credit facility. Shariah Capital served as special advisor to KGS on the transaction.
Aegean Marine Petroleum Network Inc. (AMPNI; NYSE: ANW) is an international marine fuel logistics company that markets and physically supplies refined marine fuel and lubricants to ships in port and at sea. AMPNI procures product from various sources (such as refineries, oil producers, and traders) and resells it to a diverse group of customers across all major commercial shipping sectors and leading cruise lines. Currently, AMPNI has a global presence in 31 markets across North America, Central America and the Caribbean, Europe, North Africa, the Middle East, and Asia. To learn more about Aegean, visit http://www.ampni.com.
Proceeds from the facility, which was secured at lower rates and with a longer tenor than the Company's existing 2013 Fujairah Credit Facility, were used to repay the indebtedness currently outstanding on that facility in the amount of $45.2 million. The balance of proceeds is expected to be used to opportunistically purchase supply while pursuing AMPNI’s strategy of selling blended products to generate greater profitability.
KGS assisted in initiating, structuring, placing, and negotiating the facility on behalf of AMPNI. This transaction demonstrates KGS’s ability to place debt transactions to global financial institutions and capital markets. KGS remains focused on providing high quality advisory and capital markets services to our maritime, transportation, and energy and infrastructure clients.
If you would like more information about KGS, or if you have any questions regarding the transaction, please contact Sandy Reddin at SReddin@KGSAlpha.com or +1 646.640.1274.
KGS is a leading institutional fixed income broker-dealer with a focus on asset-backed, mortgage-backed and agency securities. KGS's experienced Investment Banking Group has a proven track record of developing and structuring innovative financing solutions for middle-market companies. The Investment Banking Group offers a range of services across a variety of industry sectors including energy, transportation, natural resources, and specialty finance. The depth and breadth of the KGS Investment Banking platform serves as an excellent complement to its line-up of fixed income products and services.