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ARM Energy and Rabobank Enter $110MM Credit Facility

June 09, 2023, 07:51 AM
Filed Under: Energy

ARM Energy Services, a private energy marketing firm and one of the leading North American physical natural gas marketers, entered into a $110 million senior secured revolving credit facility with Rabobank as administrative agent, book runner and lead arranger.

AES, together with its affiliates, provides producer services and conducts asset management optimization, logistics and wholesale trading activities across the United States, Canada and Mexico. Proceeds from the revolving credit facility were used to refinance AES’ $85 million credit facility and will support working capital needs and general corporate purposes.

“ARM Energy is excited to be expanding its credit facility and banking relationships,” said Zach Lee, chief executive officer, ARM Energy Holdings, LLC. “We pride ourselves on identifying synergies across the energy value chain and expect this financing to enhance our overall energy platform.”

“Rabobank is proud to partner with ARM Energy on its inaugural commodity finance borrowing base facility,” said Christine Dirringer, global head of trade and commodity finance at Rabobank. “This financing will serve ARM well and reflects Rabobank’s strategy of leveraging natural gas as a transition fuel. We look forward to working with ARM Energy for years to come.”

Bo Dunne, chief financial officer, ARM Energy Holdings, LLC added, “We have known the Rabobank team for several years and were impressed with their energy capabilities in leading this inaugural deal. We are pleased to welcome high-quality commodity finance banks into our transaction, including Brown Brothers Harriman, First Horizon Bank, Macquarie Group and Valley National Bank. The composition of the syndicate, coupled with a $90 million accordion provide a clear path to execute our growth initiatives.”

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