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Gunvor May Issue Bond, Plans New Oil Refineries, CEO Says

Gunvor Group Ltd., the independent energy trader, may sell as much as $500 million of bonds this year and plans to build new refineries, according to its chief executive officer and co-founder Torbjorn Tornqvist.

The company may issue five-year, dollar-denominated debt, which it hopes will close in the second quarter, Tornqvist said in an interview in Davos, Switzerland, where he is attending the World Economic Forum.