In the US, bulk liquid storage terminal operator Westway Group has signed a new three-year $175 million (117 million) senior secured revolving credit facility.
The facility is being provided by a nine-bank syndicate led by JPMorgan Chase Bank.
The facility replaces a $100 million facility provided by ED & F Man Treasury Management that had been established at the time of the company's acquisition of the Westway bulk liquid storage and liquid feed businesses.
The new facility will be used to refinance the around $88 million balance under the ED & F Man credit facility, leaving $87 million of available credit under the new facility for general corporate purposes, which could include among other things working capital, capital expenditures and acquisitions.
New Orleans-based Westway Group is a provider of bulk liquid storage and related services and a manufacturer and distributor of liquid animal feed supplements.