Shell builds cash pile again with $12bn revolver

Oil pump adobe stock
By Mike Turner
31 Mar 2020

Royal Dutch Shell has signed a $12bn credit line, three months after securing a similarly sized deal, as the Anglo-Dutch oil major builds up its cash pile in the face of plunging oil demand and prices.

The new $12bn revolving credit facility is in addition to a $10bn credit facility signed in December. More than 20 banks joined the December loan, including most of the main lenders active in the European syndicated loan market.

This brings the company's cash and cash equivalents up to around ...

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