Gunvor Closes New USD 500 Mil. Borrowing Base Facility
Locally-Sourced Borrowing Base Supports Operations at German Refinery
(firmenpresse) - MUNICH, GERMANY -- (Marketwired) -- 08/01/13 -- Gunvor Group has signed a new, locally-sourced USD 500 million borrowing base revolving credit facility (the "Facility") to finance the working capital needs of the company's refinery in Ingolstadt, Germany.
UniCredit Bank AG and Deutsche Bank AG led the facility as Bookrunning Mandated Lead Arrangers, and UniCredit Bank AG acted as Coordinator. The 360-day revolving facility has been placed in Germany and Austria and was comfortably oversubscribed. It further diversifies Gunvor's banking relationships.
Coupled with Gunvor's recent completion of a EUR 225 mil. receivables financing deal, the Facility establishes a healthy foundation for sustainable, long-term operations at the German refinery.
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 and coal mining-Gunvor further generates sustainable value across the global supply chain for its customers. More information can be found at or (at)Gunvor.
Contacts:
Gunvor Group
Seth Thomas Pietras
Communications Director
+41 79 870 6290
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Datum: 01.08.2013 - 13:00 Uhr
Sprache: Deutsch
News-ID 283940
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MUNICH, GERMANY
Kategorie:
Oil & Gas
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