Gunvor receives 1,550bn RCF
Gunvor Group Ltd (“Gunvor Group” or the “Company”) is pleased to announce the successful signing of a US$1,550,000,000 Revolving Credit Facility (the “Facility”) in favour of Gunvor International B.V. (“Gunvor International”), Gunvor SA and Gunvor Singapore Pte Ltd (“Gunvor Singapore”) (together the “Borrowers”), the Group's press release said.
The Facility was arranged by ABN AMRO Bank N.V., BNP Paribas, Crédit Agricole Corporate and Investment Bank, Credit Suisse AG, ING Bank N.V., Natixis, Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (trading as “Rabobank International”), Société Générale Corporate & Investment Banking and The Hongkong and Shanghai Banking Corporation Limited (together the “Bookrunning Mandated Lead Arrangers”). China Development Bank joined the Facility during general syndication as Bookrunning Mandated Lead Arranger.
BNP Paribas, Crédit Agricole Corporate and Investment Bank, ING Bank N.V., Natixis, Société Générale Corporate & Investment Banking and The Hongkong and Shanghai Banking Corporation Limited were active Bookrunners.
The Facility, which is guaranteed by the Company, will be used for general corporate purposes and to refinance Gunvor International’s existing US$1,060,000,000 revolving credit facility dated 23rd June 2010.
The Facility which was launched at US$1,100,000,000 was significantly oversubscribed and subsequently increased to US$1,550,000,000.
Gunvor Group Ltd is registered in Nicosia, Cyprus, with major trading operations in Geneva and Singapore. The Group has a number of other offices and entities around the world. As one of the world's major independent commodity trading companies, it is a market leader in the trade, transport, storage and optimization of oil and other energy products.
The Facility was arranged by ABN AMRO Bank N.V., BNP Paribas, Crédit Agricole Corporate and Investment Bank, Credit Suisse AG, ING Bank N.V., Natixis, Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (trading as “Rabobank International”), Société Générale Corporate & Investment Banking and The Hongkong and Shanghai Banking Corporation Limited (together the “Bookrunning Mandated Lead Arrangers”). China Development Bank joined the Facility during general syndication as Bookrunning Mandated Lead Arranger.
BNP Paribas, Crédit Agricole Corporate and Investment Bank, ING Bank N.V., Natixis, Société Générale Corporate & Investment Banking and The Hongkong and Shanghai Banking Corporation Limited were active Bookrunners.
The Facility, which is guaranteed by the Company, will be used for general corporate purposes and to refinance Gunvor International’s existing US$1,060,000,000 revolving credit facility dated 23rd June 2010.
The Facility which was launched at US$1,100,000,000 was significantly oversubscribed and subsequently increased to US$1,550,000,000.
Gunvor Group Ltd is registered in Nicosia, Cyprus, with major trading operations in Geneva and Singapore. The Group has a number of other offices and entities around the world. As one of the world's major independent commodity trading companies, it is a market leader in the trade, transport, storage and optimization of oil and other energy products.
