Oil and shipping group Monjasa has been granted a credit facility of $80m by French bank Société Générale which it says will enable it to grow its business.
Monjasa has recently expanded beyond bunkering activities and into oil trading. The company said the new credit facility is already operational, however would not reveal any further details of the deal.
“This new facility enables Monjasa to grow its business. Monjasa has grown considerably over the past years and we have gone from being a regional bunker company to a global diversified trading group. Our financing model is important for this development and decisive for offering our business partners the global services and efficiency they expect. Therefore, we have been very determined to obtain this deal and today I am delighted to introduce a new $80m credit facility arranged by Société Générale,” said Monjasa Group CFO, Kenneth Henriks.
Monjasa Group said it has also increased an existing credit facility related to the financing of the group’s offshore shipowning activities by $15m in the second quarter.