THE PRAX GROUP ANNOUNCES SUCCESSFUL COMPLETION OF A NEW USD750 MILLION SECURITISATION FACILITY

London, United Kingdom, 2 March 2021:The Prax Group, a leading independent oil refining, trading, storage, distribution and retail conglomerate dealing in petroleum products and bio-fuels, has announced the successful completion of a USD750 million securitisation facility.  The Group mandated HSBC Bank plc as Arranger, with HSBC Bank UK plc, Citibank N.A., JPMorgan Chase Bank, N.A., and Royal Bank of Canada as Senior Note Purchasers.

Robin Edwards, Chief Financial Officer of the Prax Group, said: "This new source of funding is an important milestone for the Group and will provide it with a solid platform from which to execute its strategic objectives and to support its future growth plans.  The launch of a new securitisation facility, particularly amidst the backdrop of a challenging economic environment, serves to highlight the strength of our business model, and the confidence that the securitisation participants have in our management team and our vision for the future.  We are very appreciative of their support in providing this commitment to the Group," he concluded.

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Notes to Editors

About The Prax Group:Headquartered in the UK, the Prax Group is a leading independent oil refining, trading, storage, distribution and retail conglomerate dealing in petroleum products and bio-fuels. The Group has established principal offices in London, Houston and Singapore, and additional satellite offices across the world.

Corporate Headquarters:

Prax Group

York House

45 Seymour Street

London W1H 7JT

United Kingdom

Tel: +44 (0) 207 580 0033

Fax: +44 (0) 207 580 0334

Email:press@prax.com

For further press information, contact:

Anne-Marie McGrath -am@ifpr.co.uk

Hannah Norman -Hannah@ifpr.co.uk