Amsterdam Commodities N.V. (‘Acomo’) has signed new bank facilities for a total of € 250 million. The facilities will be utilized for working capital financing including acquisitions. The facilities replace existing credit facilities which would have matured in the years 2014 until 2017.
The conditions of the new facilities reflect Acomo’s sound credit fundamentals. The facilities have a three year term with options for an additional two years and for an increase of 30% of the total amounts.
Jan ten Kate, CFO of Acomo: “We are very pleased with the sincere interest of banks to finance our group. We have further strengthened our financing structure by arranging long term debt financing at attractive conditions. The group has a very strong solvency position and liquidity position. These financial positions are essential for a trading company that focuses on growth.”
Rabobank International and ING Bank acted as coordinator and mandated arrangers. HSBC Bank and Fifth Third Bank joined the syndicate of banks.