BB Energy Asia's $210M Digital Loan Closure

 

BB Energy Asia, a subsidiary of BB Energy Group Holding Ltd, has successfully closed a USD210 million Secured Digital Borrowing Base facility to bolster its Asian trading business's working capital needs. This 364-day facility, guaranteed by BB Energy Group, represents the Group's initial digital borrowing base facility outside the USA. Oversubscribed and eventually closed at USD210 million, the facility caters to import finance, inventory funding, and hedging positions under BB Energy Asia. Natixis CIB Singapore leads as the Facility and Security agent, with other participants including APICORP, MUFG Bank Ltd Singapore, and others.

This milestone closing reflects confidence in BB Energy Group's creditworthiness and business outlook. The facility's launch signifies strong banking partner relationships, anchored in financial strength, strategy, and responsible trading. BB Energy emphasizes a commitment to digitalization, partnering with KOMGO and SGTraDex to enhance transparency, integrity, and liquidity provision, improving efficiency and security in their financial transactions. This move signals a new era of digitalization, fostering enhanced connectivity, trust, and transparency in trading and financing sectors.

More Information : https://www.techdogs.com/tech-news/pr-newswire/bb-energy-asia-successfully-closes-inaugural-usd210mn-secured-digital-borrowing-base-facility

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