Gunvor Singapore Launches US$ 650 Mil. Revolving Credit Facilities
SINGAPORE, SINGAPORE -- (Marketwired) -- 04/08/13 -- Gunvor Singapore
Pte Ltd (the "Borrower"), a wholly-owned subsidiary of Gunvor Group
("Gunvor" or the "Company"), today launched US$ 650,000,000
syndicated revolving credit facilities (the "Facilities"). The launch
is part of Gunvor's successful strategy to both grow and diversify
its financing to support new investments and existing operations,
which includes an increased focus on Asia.
Arab Petroleum Investments Corporation ("APICORP"), Bank of China,
Singapore Branch, China Development Bank ("CDB"), DBS Bank Ltd
("DBS"), First Gulf Bank PJSC, Singapore Branch, ING Bank N.V.,
Singapore Branch ("ING"), National Australia Bank Limited, Singapore
Branch, Rabobank International ("Rabobank"), Societe Generale
Corporate & Investment Banking ("SGCIB") and Sumitomo Mitsui Banking
Corporation ("SMBC") (together the "Bookrunning Mandated Lead
Arrangers") have been mandated to arrange the Facilities. APICORP,
CDB, DBS, ING, Rabobank, SGCIB and SMBC will act as Active
The Facilities, which are guaranteed by the Company, will be used to
refinance the Borrower's revolving credit facility dated 12th June,
2012 and to finance general corporate and working capital
requirements of the Borrower. The Facilities will be offered in two
tranches with a 1-year and 3-year tenor respectively.
The stand-alone Asian facility first launched in 2012 and received
overwhelming response with over-subscription by 35 percent. This
support affirmed Gunvor's global growth strategy, which consists of
geographic expansion, product diversification, and investments along
the value chain.
Gunvor is one of the world's largest independent commodity trading
companies by turnover, providing integrated trading products and
logistics services for participants in the worldwide oil and energy
markets. The Group's main trading offices are in Geneva, Singapore,
Nassau and Dubai, with a network of representative offices around the
globe. Follow Gunvor on Twitter: @Gunvor.
Mr Seth Pietras
+41 79 870 6290
Mr Guy Hargreaves
+852 2103 2664
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