(The following press release from Gunvor was received by e-mail. The
sender verified the statement.)
GENEVA | 22 JANUARY 2013
Gunvor Completes Financing to Support Novorossiysk Fuel Oil Terminal
LLC Novorossiysk Fuel Oil Terminal ("NFT"), which is jointly owned by Gunvor
Group ("Gunvor") and PJSC Novorossiysk Commercial Sea Port ("NCSP"), has
successfully closed a secured 7-year USD $110 million credit facility (the
"Facility") from ZAO Raiffeisenbank.
The proceeds will refinance shareholder loans used to construct the fuel oil
terminal and infrastructure, including tanks, rail-car discharging racks, and
The fuel oil terminal, which has a capacity of 119,000 m3 and a throughput of 4
million tons a year, was successfully commissioned and received an operating
permit in 2012.
# # #
Seth Thomas Pietras
Gunvor Group Ltd
Mobile: +41 79 870 6290
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