Deutsche Bank and VTB Support Gunvor's Acquisition of Ingolstadt
GENEVA, SWITZERLAND -- (Marketwire) -- 12/18/12 -- Gunvor Group
("Gunvor") has mandated Deutsche Bank AG, London Branch (Bookrunner)
and VTB Bank (Austria) AG as Mandated Lead Arrangers to arrange and
underwrite a USD $100 million Secured Acquisition Facility (the
"Facility") to finance the acquisition of former Petroplus refinery
and marketing activity in Ingolstadt, Germany.
Gunvor is pleased with the successful completion of this Facility
considering the current challenging European refining market. This
Facility, which is the first of its kind for this sector in
Continental Europe in the recent years, recognizes the value of the
Ingolstadt assets and confidence in Gunvor's business plan.
Gunvor closed its acquisition of the assets in Ingolstadt on August
23, which consist of Gunvor Raffinerie Ingolstadt GmbH and the
refinery's German marketing arm, Gunvor Deutschland GmbH. The German
companies, which have retained all of their more than 400 employees,
serve the markets in Southern Germany und Upper Austria, and restored
important fuel supply and competition to the land-locked area.
Recent Gunvor Ingolstadt news:
- Gunvor Raffinerie Ingolstadt Lifts 1 Million Tons Since Acquisition
- Gunvor Acquires Stake in TAL Pipeline (6 December)
- Gunvor Starts Ingolstadt Refinery (27 August)
Recent Gunvor financings:
- Gunvor Closes Oversubscribed USD $1.16 Billion Revolving Credit
Facility (13 December)
- Gunvor Closes USD $530 Million Facility to Support Activities in
Americas (11 December)
- Gunvor Closes USD $625 Million Syndication for Belgian Refinery,
Oversubscribed by 25% (31 October)
- Gunvor Singapore Pte Ltd's Oversubscribed USD 635 Mil. Syndication
Affirms Asian Growth Strategy (12 June)
About Gunvor Refinery Ingolstadt (GRI)
GRI is an inland refinery operating in a niche market. Crude oil
supply arrives via the TAL pipeline system, a 753 kilometer pipeline
connection from the marine shipping terminal in Trieste, Italy.
Products are shipped from the on-site truck-loading rack and
railcar-loading facilities. This enables a stable distribution into
the local markets. Light products and middle distillates such as
gasoline, diesel, heating oil and jet fuel are sold predominantly in
Germany and Austria.
About Gunvor Deutschland
Gunvor Deutschland GmbH is the German marketing subsidiary of Gunvor,
the main distributor for all refinery products from Ingolstadt and
imports and exports to/from Germany. Gunvor Deutschland consists of
two separate business units being the direct end consumer and
industry business and the wholesale and bulk supply business. The
product portfolio includes all kind of finished and semi-finished
refinery products as well as feedstocks for blending and conversion.
About Gunvor Group
Gunvor Group, one of the world's largest independent commodity
trading companies by turnover, provides integrated trading products
and logistics services for participants in the worldwide oil and
energy markets. The company's trading offices are in Geneva,
Singapore, Nassau and Dubai, with a network of representative offices
around the globe. Follow Gunvor on Twitter: @Gunvor.
Seth Thomas Pietras
+41 79 870 6290
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