World Kinect extends $2 billion credit facility maturity to 2030

World Kinect Corporation (NYSE: WKC) amended and extended its $2 billion senior unsecured credit facility, pushing the maturity date to November 2030 with an option to extend to November 2031 subject to lender consent.

The facility includes both a revolving credit facility and a term loan. Bank of America led the arrangement with support from a syndicate of global financial institutions.

"This extension underscores the strength of our credit profile and further supports our ability to deliver long-term value through a sharpened focus on execution and profitable growth," said Ira M. Birns, President of World Kinect Corporation.

The amended facility features improved pricing terms and expanded covenant flexibility to support the company's capital allocation priorities and growth plans, according to the company's statement.

Mike Tejada, Executive Vice President and Chief Financial Officer, said the facility provides "financial agility to support our strategic growth initiatives and respond to the evolving needs of the business."

World Kinect operates as a global energy management company, offering fulfillment and related services across aviation, marine, and land-based transportation sectors. The Miami-based company also supplies natural gas and power in the United States and Europe along with sustainability-related products and services.

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