Gunvor Singapore Launches US $350 Mil. Revolving Credit Facility

Gunvor Singapore Launches US $350 Mil. Revolving Credit Facility 
SINGAPORE, SINGAPORE -- (Marketwired) -- 04/27/14 --   Gunvor
Singapore Pte Ltd (the "Borrower"), a wholly-owned subsidiary of
Gunvor Group ("Gunvor" or the "Company"), has launched a US $350 mil.
syndicated revolving credit facility (the "Facility"), which will
support new investments and existing operations in the Asia-Pacific.  
"Gunvor is in a strong position, having pursued a strategy to
diversify how we finance our Asian activities with a number of
dedicated borrowing bases in addition to our RCF," said Jacques Erni,
CFO Gunvor Group. "A number of core banks have already committed to
join the syndication, and we're very happy with the support we've
seen from our banking partners." 
During the last year, Gunvor launched borrowing bases dedicated to
specific Asian trading, including:  

--  US $510 mil. borrowing base for fuel oil trading 
--  US $255 mil. borrowing base for gasoline trading 
--  US $400 mil. borrowing base for Middle East activities 

The stand-alone Asian Facility, first launched in 2012, is now
complemented by the borrowing bases, as well as Gunvor's US $500 mil.
bond and the US $1.515 bil. European RCF, which had been increased
significantly in December 2013. These support Gunvor's established
and continuing global growth strategy, which consists of geographic
expansion, product diversification, and investments along the value
Bookrunners and mandated lead arrangers of the Facility refinancing
are Arab Petroleum Investments Corporation, DBS Bank Ltd, First Gulf
Bank PJSC, Singapore Branch, ING Bank N.V., Singapore Branch, Malayan
Banking Berhad, Singapore Branch, Societe Generale Corporate &
Investment Banking and ABN AMRO Bank N.V., Singapore Branch. Rabobank
International joined as MLA in senior syndication.  
The Facilities, which are guaranteed by the Company, will be used to
refinance the Borrower's revolving credit facility dated 6 June 2013
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. 
About Gunvor Group 
Gunvor Group is one of the world's largest independent commodities
trading houses by turnover, creating logistics solutions that safely
and efficiently move physical energy from where it is sourced and
stored to where it is demanded most. With strategic investments in
energy infrastructure-refineries, pipelines, storage, terminals,
mining and upstream-Gunvor further generates sustainable value across
the global supply chain for its customers. More information can be
found at or @Gunvor. 
Gunvor Group
Corporate Affairs Director
Seth Thomas Pietras
+41 79 870 6290
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