Vivakor Signs Term Sheet for $40 Million Credit Facility

MT Newswires Live

Oct 15

Vivakor (VIVK) said Wednesday it signed a nonbinding term sheet with an undisclosed wholesaler to create a $40 million commodity intermediation credit facility to support its crude oil trading operations.

The company said the proposed facility would provide credit support such as letters of credit, surety bonds, or guarantees for physical crude oil transactions managed by its subsidiary, Vivakor Supply & Trading. The arrangement would have a one-year term and up to $40 million in available credit, the company added.

Vivakor said its trading arm will continue to handle transportation and logistics through its affiliates, including its trucking fleet, crude oil stations, terminal facilities, and pipeline assets.

Definitive agreements are still being negotiated and the companies expect to close by Oct. 30, Vivakor added.

Shares of the company were up more than 33% in early Wednesday trading.

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The arrangement would have a one-year term and up to $40 million in available credit, the company added.</p><p>Vivakor said its trading arm will continue to handle transportation and logistics through its affiliates, including its trucking fleet, crude oil stations, terminal facilities, and pipeline assets.</p><p>Definitive agreements are still being negotiated and the companies expect to close by Oct. 30, Vivakor added.</p><p>Shares of the company were up more than 33% in early Wednesday trading.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"VIVK","symbol_name":"Vivakor, Inc.","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2575386397","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2575386397","pubTimestamp":1760535074,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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