Danish fuel supplier Bunker Holding has secured new financing worth $1bn.
The unsecured revolving credit facility involves a syndicate of 12 banks.
The family-owned company said this is one of the largest corporate credit facilities to date in the industry and supports its continued growth and the need for further financial flexibility in the light of IMO 2020.
The finance is available for three years and includes a funding capacity framework of up to $2.5bn and an option to extend for up to five years.
It refinances and increases an existing $650m facility at a "competitive" price, the company said.
The deal involves new and existing lenders.
Deutsche Bank and Nordea were coordinators, bookrunners and mandated lead arrangers.
CFO Michael Krabbe said: “2020 heralds a paradigm shift to our industry in many ways and bunker companies need to be more financially robust, with a stronger credit-worthiness than ever before."
