BB Energy Asia successfully closes inaugural USD210mn secured digital borrowing base facility
SINGAPORE, Nov. 6, 2023 /PRNewswire/ -- BB Energy Asia, a wholly-owned subsidiary of BB Energy Group Holding Ltd ("BB Energy Group" or the "Group"), has closed a USD210 million Secured Digital Borrowing Base facility ("Facility") to support the working capital needs of its Asian trading business.
- SINGAPORE, Nov. 6, 2023 /PRNewswire/ -- BB Energy Asia, a wholly-owned subsidiary of BB Energy Group Holding Ltd ("BB Energy Group" or the "Group"), has closed a USD210 million Secured Digital Borrowing Base facility ("Facility") to support the working capital needs of its Asian trading business.
- The 364-day Facility, guaranteed by BB Energy Group, is the first digital borrowing base facility for the Group outside the USA, covering import finance as well as funding of inventory, receivables, and hedging positions under its wholly owned subsidiary, BB Energy Asia.
- This successful closing marks a significant milestone for BB Energy Asia and demonstrates the unwavering confidence in BB Energy Group's creditworthiness and business prospects.
- L-Thanh Nguyen, Head Global Trade Asia Pacific, Natixis Corporate and Investment Banking, said: "We are proud to be entrusted by BB Energy Asia to lead, arrange, structure, and execute this inaugural Secured Digital Borrowing Base facility for BB Energy Group.