Uch Cecil Izuora
Sahara Energy Resource Limited has announced the successful closing of a USD 225 million unsecured, committed Revolving Credit Facility (RCF).
The facility was significantly oversubscribed, underscoring the confidence of the international financial community in Sahara’s business model, performance, and strategic vision of bringing energy to life responsibly.
The new facility is supported by a syndicate of 19 leading international and regional banks, with ING Bank N.V., UBS Switzerland AG, Natixis CIB, Banque Internationale de Commerce – BRED (Suisse) SA, and Afreximbank acting as initial Bookrunning Mandated Lead Arrangers (BMLAs).
The facility also enjoyed the support of new banks, including First Abu Dhabi Bank PJSC, Commercial Bank of Dubai PSC, ABSA Bank Limited joining as BMLAs while Nedbank Limited (London Branch) and Arab Banking Corporation SA joined as Lead Arranger and Arranger respectively.
Existing banks having supported Sahara in the frame of its inaugural RCF in 2024 have recommitted, namely Standard Bank (South Africa) and Ghana International Bank at BMLA level, Banque de Commerce et de Placements S.A. (BCP), CA Indosuez (Switzerland) Ltd., Ecobank (EBI SA, Paris) and Société Générale at Mandated Lead Arranger level while Arab Bank Corporation SA, Bank of China Limited (Geneva Branch) and Union des Banques Arabes et Françaises (UBAF) recommitted as Arrangers.
ING Bank N.V. acted as Bookrunner, Documentation Agent and Coordinator, whereas Natixis acted as Bookrunner Information Memorandum Bank, UBS Switzerland AG as Facility Agent and Afreximbank as Bookrunner.
This RCF enhances Sahara’s financial flexibility and supports its ongoing working capital needs, trade finance activities, and general corporate purposes across its global energy operations.
“We are extremely pleased with the strong support received from both new and existing banking partners,” said Nicolas Mignot, Chief Financial Officer of Sahara Energy Resource. “The oversubscription of this facility is a testament to the strength of our relationships, the resilience of our business model, and the continued trust in Sahara’s growth strategy.”
Francois Broussard, Head of Trade Commodity Finance Switzerland; Commodity Merchant Clients at ING Bank said “We are pleased to have renewed our support to Sahara, to close successfully the first refinancing and increase of their RCF. This is a testimony to the quality of the platform they have built over the years as well as the trusted relationships developed with their banking partners.
The RCF is a recent building block to Sahara’s funding strategy, giving them an additional layer of liquidity to navigate uncertain times, eventually contributing to their compelling growth journey. For these reasons, we are very proud to support this transaction.”
After successfully closing its USD175 Million inaugural Revolving Credit Facility in 2024, this transaction marks another milestone in Sahara’s commitment to operational excellence and robust financial stewardship as it continues to expand its footprint across the global energy value chain, enhancing energy security and environmental sustainability.