BB Energy Asia, a subsidiary of BB Energy Group Holding Ltd, has successfully closed its inaugural Secured Digital Borrowing Base facility worth USD 210 million. The facility, guaranteed by BB Energy Group, will provide support for the working capital requirements of BB Energy Asia’s trading business in Asia.
This digital borrowing base facility, the first of its kind for the Group outside the USA, encompasses import finance and funding for inventory, receivables, and hedging positions. The facility was oversubscribed and closed at USD 210 million, exceeding its initial launch amount of USD 150 million.
Natixis CIB Singapore has been appointed as the facility and security agent, with other participating banks including Arab Petroleum Investments Corporation (APICORP), MUFG Bank Ltd Singapore, Abu Dhabi Commercial Bank PJSC, Arab Banking Corporation B.S.C. Singapore, and Credit Agricole Corporate and Investment Bank Singapore.
This successful closing represents a significant milestone for BB Energy Asia, demonstrating the unwavering confidence in BB Energy Group’s creditworthiness and business prospects. The Regional CFO, APAC, at BB Energy Asia, expressed gratitude for the commitment and support from existing and new banking partners, emphasising the robust confidence built on financial strength, strategy, governance, and responsible trading.
BB Energy Group’s commitment to transparency and operational integrity is reflected in the cutting-edge digital trade platform developed through partnerships with KOMGO and SGTraDex. This digitalisation initiative enhances governance and provides liquidity providers with increased confidence in extending financing more securely and efficiently.
The Head Global Trade Asia Pacific at Natixis Corporate and Investment Banking expressed pride in leading, arranging, structuring, and executing this inaugural Secured Digital Borrowing Base facility, highlighting the bank’s ability to offer innovative and tailored financing solutions while supporting clients’ digital transformation journeys. The Managing Director of Komgo highlighted the enhanced integrity and transactional security achieved through digitalisation, while the head of business development and operations at SGTraDex emphasised the development’s significance in fostering trust, transparency, and enhanced connectivity in the industry. Collectively, BB Energy Asia, Natixis, Komgo, and SGTraDex call for a new era of digitalisation in the trading and financing sector.
For more information visit www.bbenergy.com
