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TRADE RECEIVABLES FACTORING
GBP 80 million - 1-year uncommitted
(United Kingdom - Oil Distribution)
Lender - not communicated
Finance Advisor - Cofarco SAS
October 2015
Cofarco advises Puma Energy on GBP 80 million trade receivables factoring facility .

On 13 March 2015, Puma Energy (www.pumaenergy.com) agreed to acquire a series of UK assets from Murco Petroleum Limited, a subsidiary of Murphy Oil Corporation (NYSE:MUR). The acquisition included the Milford Haven facility in Wales and three inland terminals at Westerleigh, Theale and Bedworth, as well as Murco’s wholesale and distribution business in the UK.

Puma Energy decided to turn to the factoring market for the financing of the corresponding trade receivables portfolio. The company engaged Cofarco as finance advisor to arrange a request for proposals and support the implementation of the facility. The GBP 80 million facility was closed in September 2015.