Bunker Holding, one of the world's largest bunker companies, owned by Danish Torben Østergaard-Nielsen, has secured a new financial agreement with a series of banks worth a total USD 650 million. The deal increases Bunker Holdings financing facilities by 50 percent.

The new credit facility will run for five years and includes additional options to extend the frame by up to 35 percent. The group also has so-called separate limits for storage financing and trade receivables financing that combined bring the new total funding possibilities to more than USD 1 billion, informs Bunker Holding in a statement on Tuesday.