(New York, NY) -- Trammo, Inc. has successfully renewed its revolving credit facility. The $430 million secured facility, with an accordion feature that can permit an increase in total commitments up to $505 million, has been renewed for a period of two years with a syndicate of 10 international banks. Coöperative Rabobank UA, New York Branch is the Administrative and Collateral Agent, and also serves, together with ABN Amro Capital USA LLC and BNP Paribas, as joint lead arranger and joint book runner.
The renewed facility is available for working capital and general corporate purposes to support Trammo’s commodities trading and distribution businesses around the world. It replaces Trammo’s current credit facility which was due to expire on July 31, 2017.
Trammo’s Chief Executive Officer Brent Hart said: “Trammo is pleased to have completed the fifth consecutive renewal of its revolving credit facility. The renewed commitment from our banking partners allows us to continue to meet the working capital needs of our business and to use our financial strength and flexibility to take advantage of global market opportunities.”
Founded in 1965, Trammo is a privately-owned, global merchandising and distribution company, with its corporate headquarters in New York City and 25 offices around the world. Trammo is engaged in the purchase, sale, transportation and distribution of a wide variety of commodities and chemical products, including ammonia, sulfur, sulfuric acid, fertilizers, liquefied petroleum gas, petroleum coke and coal. Trammo owns and operates an LPG Terminal in Newington, New Hampshire and ammonia terminals in Meredosia and Niota, Illinois.