Gunvor Completes Financing to Support Novorossiysk Fuel Oil Terminal
GENEVA, SWITZERLAND -- (Marketwire) -- 01/22/13 -- 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 pipeline.
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
+41 79 870 6290
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