Vinmar is pleased to announce the successful closing of its $800,000,000, three-year Secured Borrowing Base Facility
Vinmar is pleased to announce the successful closing of its $800,000,000, three-year Secured Borrowing Base Facility (the “Facility”), with an additional $400,000,000 accordion feature to support future growth and liquidity needs. Wells Fargo acted as Sole Lead Arranger, Sole Bookrunner, and serves as Administrative Agent for the Facility.
The Facility received strong support from Vinmar’s banking partners and was oversubscribed, with new participation from European, Middle Eastern, and Asian banks, reflecting confidence in Vinmar’s business model, financial discipline, and global trading platform. Proceeds from the Facility will be used for general corporate purposes and for funding working capital needs across the business.
“We are very pleased with the successful closing of our borrowing base facility and the strong support demonstrated by our banking partners,” said Marty Bredehoft, Chief Financial Officer of Vinmar. “The oversubscription of the Facility underscores the market’s confidence in Vinmar’s financial strength, disciplined risk management and long-standing global relationships.”
CEO Vishal Goradia said, “We appreciate the leadership of Wells Fargo and the continued confidence of our lender group as we position the company for long-term growth. Though this new facility provides substantially increased flexibility, Vinmar will continue its philosophy of maintaining a strong balance sheet as a top priority.”
About Vinmar
Headquartered in Houston, Texas, Vinmar is a global leader in petrochemical distribution and marketing, serving customers worldwide with high-quality products and solutions. Since its founding in 1978, Vinmar has grown to more than 1,500 employees across 58 offices, with an established presence in over 110 countries—bringing value to the world’s leading producers and users of plastics and chemicals through the supply of best-in-class products and tailored business solutions.