London, 01 September 2016
Macquarie Bank Limited has entered into a long-term inventory monetisation and working capital facility with the Klesch Group, owner of the Heide Refinery in Northern Germany. The refinery processes over four million tonnes of crude oil annually and provides over 70 per cent of the region’s petrol and diesel.
Macquarie will provide inventory management services and working capital support for both crude oil and products for the 90,000 barrel per day refinery. Noble Group will continue in its current role as exclusive crude supplier to the refinery.
The transaction provides financing arrangements to support the refinery as it focuses on further optimising its operations and supplying high quality products to its customers in Northern Germany and beyond.