Rubis Energie

Case Study

Rubis Energie sets up $265 million 2-year Shelf Facility

Rubis Energie, a wholly owned subsidiary of the listed company Rubis, is a leading energy distribution business, specializing in the distribution of fuels (in service stations or to professionals), lubricants, liquefied gas, and bitumen, from supply to the end customer.

At a Glance

Rubis Energie operates in over 40 countries across three geographical zones: Europe, Africa, and the Caribbean.

In July 2024, PGIM set up a $265 million PGIM Private Shelf Facility and will fund 3 series of €70 million each of Senior Unsecured Notes with 8-, 10-, and 12-year bullet maturities. This transaction marks Rubis’ first US Private Placement. The proceeds will enable the Company to diversify its funding sources while extending the current average maturity of its debt from 3 to 5 years.

CMS Francis Lefebvre represented PGM Private Capital as lender counsel. BRED Banque Populaire advised on the transaction, and Norton Rose Fulbright LLP Paris and London offices acted as legal counsel for Rubis.

We are excited to formalize our partnership with Rubis through this investment, and we look forward to continuing to support the Company into the future.

Relationship since 2024

Transaction details:

$265,000,000 PGIM Private Shelf Facility

with an initial draw of
€210,000,000 Senior Unsecured Notes

“We are pleased to partner with PGIM. They took the time to understand our business, our ambition, and our values. PGIM provided funding for Rubis to meet its growth objectives while adding tenor and diversification. We appreciated PGIM's ability to structure a bespoke funding solution to facilitate Rubis’ financing needs over the long-term."

Marc Jacquot Group CFO, Rubis