Global marine fuels firm Peninsula has renewed its $400 million syndicated credit facility in Singapore, further strengthening its financial position and demonstrating continued lender confidence in the company’s long-term strategy.
The renewal follows the extension of Peninsula’s European banking facility earlier this year and, together with other bilateral lines, takes the group’s total funding capacity to more than $1.5 billion.
While the Singapore facility remains at $400 million, several participating banks sought to increase their commitments during the renewal process. The structure also includes a $75 million accordion option, allowing Peninsula to expand the facility to $475 million if required.
Mirroring the setup of the European facility, the Singapore syndicate includes a 2-year committed tranche, reflecting strong, sustained confidence from top-tier institutions in Peninsula’s resilient business model.
The syndicate remains unchanged and includes HSBC (as Arranger and Facility Agent), UOB, Citi, Lloyds, Mashreq Bank, Arab Banking Corporation (B.S.C.), OCBC, and QNB Singapore.
“Future success in the marine fuels industry will increasingly require both significant capital and liquidity,” said Peninsula CEO John A. Bassadone. “I’m proud that we deliver both through a robust balance sheet, risk aware business model and enduring relationships with world-class banks. This facility renewal is yet another testament to Peninsula’s strength, stability, and leadership in marine energy.”
Peninsula CFO Tom Francisco added: “Peninsula’s reputation for disciplined execution and strong governance resonates across the banking community. The re-engagement of our Asian syndicate—alongside new interest—reflects the trust in our strategy and platform. We’ve never been in a stronger financial position than we are today.”
The renewal marks another milestone in Peninsula’s ongoing effort to diversify its lender base across major global regions, aligning its steady growth with a solid and flexible financial foundation.
