Gunvor Closes Oversubscribed USD $1.16 Billion Revolving Credit Facility
(firmenpresse) - GENEVA, SWITZERLAND -- (Marketwire) -- 12/13/12 -- Gunvor Group ("Gunvor Group" or the "Company") has signed its USD $1,160,000,000 Revolving Credit Facility (the "Facility") in favour of Gunvor International B.V. ("Gunvor International") and Gunvor SA, (together the "Borrowers"). The Facility, oversubscribed by 45 percent, draws on an expanded pool of banks, as Gunvor continues to see new support for its operations.
The Facility was arranged by ABN AMRO Bank N.V., Credit Agricole Corporate and Investment Bank ("Credit Agricole CIB"), Credit Suisse AG, ING Bank N.V. ("ING Bank"), Natixis, Rabobank International ("Rabobank"), and Societe Generale Corporate & Investment Banking (together the "Bookrunning Mandated Lead Arrangers"). ABN AMRO Bank N.V., Credit Agricole CIB, ING Bank, Rabobank and Societe Generale Corporate & Investment Banking were Active Bookrunners.
The Facility, which is guaranteed by the Company, will be used for general corporate purposes and to refinance the Borrowers' 3-year revolving credit facility dated 21 June 2011 and the USD $852,000,000 revolving credit facility extended by 6 months on 19 June 2012 (the "Existing Facilities").
The Facility available to the Borrowers, which was launched at USD $800,000,000, was significantly oversubscribed after syndication and subsequently increased to USD $1,160,000,000, consists of 2 tranches split as follows:
Together with the oversubscribed and increased signed in June 2012 this Facility evidences Gunvor's successful strategy to grow and diversify its financing to support new investments and existing operations.
The participating banks in the Facility are as follows:
About 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. .
Contacts:
Gunvor: Communications
Seth Thomas Pietras
+41 79 870 6290
Rabobank
Peter Hursthouse
+44 20 7809 3766
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Datum: 13.12.2012 - 09:00 Uhr
Sprache: Deutsch
News-ID 212372
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contact information:
Town:
GENEVA, SWITZERLAND
Kategorie:
Oil & Gas
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