NEWS

             31stAugust2022

THE PRAX GROUP ANNOUNCES SUCCESSFUL UPSIZING OF ITS SECURITISATION FACILITY

The Prax Group, a British multinational independent oil refining, storage, distribution and sales conglomerate dealing in petroleum products and bio-fuels, has announced that it has successfully upsized its securitisation facility from £575 million to £739 million.  The Group has mandated HSBC Bank plc as Arranger, with HSBC UK Bank plc, Citi., JPMorgan Chase Bank, N.A., and Royal Bank of Canada as Senior Note Purchasers. 

The increase to the Group's existing liquidity will provide Prax with increased resilience to high prices and a solid platform from which to execute its strategic objectives and to support its future growth plans. This demonstrates the confidence that the securitisation participants have in the strength of the Group's business model and its vision for the future. 

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Notes to Editors

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

Corporate Headquarters:

Prax Group

York House

45 Seymour Street

London W1H 7JT

United Kingdom

Email: press@prax.com