GENEVA, SWITZERLAND--(Marketwired - July 24, 2015) - Gunvor Singapore Pte Ltd (the "Borrower"), a wholly-owned subsidiary of Gunvor Group Ltd ("Gunvor Group"), has increased its USD911.7 million syndicated revolving credit facility (the "Facility") to USD1.0627 billion on 24 July 2015 through accordion to accommodate additional interest in the Facility.
In addition to the original 31-bank lender group, seven banks have joined the Facility by accordion, including First Gulf Bank PJSC Singapore Branch, Bank of Baroda Singapore Branch, PT Bank Mandiri (PERSERO) TBK Singapore Branch, Arab Petroleum Investments Corporation (APICORP), Banque Misr SAE Paris Branch, Bank SinoPac and Taiwan Business Bank. DBS, ING, Rabobank and SG acted as Active Bookrunners.
Proceeds of the Facility, which is guaranteed by Gunvor Group, will be used for debt repayment and to finance the general corporate and working capital requirements of the Borrower.
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 www.gunvorgroup.com or @Gunvor.
Contact Information:
Seth Thomas Pietras
+41 79 870 6290
seth.pietras@gunvortrade.ch