FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Societe Generale Provides $80MM Credit Facility to Monjasa

August 24, 2016, 07:07 AM
Filed Under: Marine
Related: Societe Generale

Leading global oil and shipping group, Monjasa, welcomes French international bank Société Générale S.A. as new financial partner and reveals a newly established credit facility of $80 million.

Within the last year, Monjasa has expanded beyond bunkering activities and further up the value chain and into oil trading. By seizing control of the oil products and logistics at an earlier stage, Monjasa is increasing reliability and efficiency of its worldwide physical supply of marine fuels. Engaging into trading of larger oil parcels requires determination on combining distribution, compliance – and not least robust financial capabilities. 

"Monjasa has grown considerably over the past years and we have gone from being a regional bunker company to a global diversified trading group. Our financing model is important for this development and decisive for offering our business partners the global services and efficiency they expect. Therefore, we have been very determined to obtain this deal and today I am delighted to introduce a new USD 80 million credit facility arranged by Société Générale," says Monjasa Group CFO, Kenneth Henriks. 

"We see the establishment of this new facility as a seal of approval in the robustness of our business model and confirmation of the value of our strong balance sheet, most recently demonstrated in our 2015 Annual Report."

Week's News

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.