Gunvor Closes Asian RCF Oversubscribed at US $536.6 Million

Gunvor Closes Asian RCF Oversubscribed at US $536.6 Million 
SINGAPORE, SINGAPORE -- (Marketwired) -- 06/05/14 --   Gunvor
Singapore Pte Ltd (the "Borrower"), a wholly-owned subsidiary of
Gunvor Group ("Gunvor", or the "Company"), has closed a US $536.6
mil. syndicated revolving credit facility (the "Facility"), which
will support existing operations in the Asia-Pacific region. The
Facility was oversubscribed, having launched at US $350 mil. Due to
continuing interest from banks, Gunvor has incorporated an accordion
feature to accommodate additional participation. 
The stand-alone Asian Facility, first launched in 2012, is now
complemented by its borrowing base facilities, as well as Gunvor's US
$500 mil. bond and the US $1.535 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 chain. 
Bookrunners and mandated lead arrangers of the Facility are Arab
Petroleum Investments Corporation (APICORP) - Foreign Branch, 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. Cooperatieve Centrale Raiffeisen-Boerenleenbank
B.A. (trading as Rabobank International) joined as a MLA prior to
launch of syndication. 
The Facility, which is 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 Facility will be offered in two tranches with a
1-year and 3-year tenor respectively. Currently, with the existing US
$135 mil., 3-year tranche of the Asian RCF, the total RCF amount
available for Asia is US $671.6 mil. 
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, metals and bulk materials from
where they are sourced and stored to where they are demanded most.
With strategic investments in industrial 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 Group
Seth Thomas Pietras
Corporate Affairs Director
+41 79 870 6290
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