LONDON, Sept 13 (Bernama-GLOBE NEWSWIRE) — The Prax Group (“Prax”) – a British multinational, independent global energy conglomerate dealing in crude oil, petroleum products and biofuels, with a complete integration across the oil value chain, from upstream to midstream and downstream – has announced the successful closing of a new privately placed c.US$300 million (equivalent) Term Loan Facility (the “Facility”). The Facility achieved a substantial oversubscription and was upsized from an original US$250 million, with four institutions participating in the transaction, including three new lenders.
The Private Credit team at HSBC Bank plc (“HSBC”) acted as Sole Mandated Lead Arranger of the transaction. Funds managed by institutional investors including Chimera Abu Dhabi (“Chimera”) and Orchard Global Asset Management (“Orchard Global”) acted as lenders alongside HSBC.