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Morocco Refiner Samir Gets $200 mln Loan from Glencore

Source: www.gulfoilandgas.com 12/25/2012, Location: Africa

SAMIR has successfully completed the implementation of a financing International $ 200 million U.S. Dollars, payable on a period of 24 months with favorable terms. This funding has been concluded with ENERGY Glencore UK Ltd, supported by international banks, including Natixis and APICORP.

Under this funding, SAMIR agrees during the term of the agreement to export part of its production in petroleum products GLENCORE ENERGY Ltd UK.

Glencore is an international group, which is headquartered in Switzerland, which is one of the world's leading trading of Contents first, and more particularly in the field of products refined petroleum.

The success of this operation demonstrates the confidence enjoyed by SAMIR with groups and international banks and the ability of its refining complex to supply the international market petroleum products comply with international specifications.

It should be noted that SAMIR began in November 2012, using Line financing 180 million U.S. dollars, subject to the agreement signed with the International Islamic Trade Finance "ITFC". These provisions fall within the scope of the efforts the SAMIR to support its liquidity and restore its financial balance.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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