Puma Syndicated Loan Crosses Finish

Puma Energy, a subsidiary of commodity trader Trafigura, has closed a $300m, 7-year syndicated loan, it says. The company declines to comment on the Libor-based interest rate or give additional details. The transaction was originally expected at $330m, but was reduced because the company didn’t need the extra $30m, according to a person familiar with the deal, who notes it was syndicated to a group of local and regional banks. The proceeds will be used to pay for the acquisition of gas stations and storage facilities in Central America and the Caribbean from Exxon completed earlier this year. Citi led the deal. It had originally been expected to close in September, with slowdowns heard because of the documentation necessary in multiple jurisdictions.