Gunvor Group Ltd (“Gunvor” or the “Group”) has closed a new US $290 million uncommitted off balance sheet instrument (“OBSI”) revolving credit facility (the “Facility”) in favour of Gunvor SA, Gunvor International B.V., Gunvor Deutschland GmbH, Gunvor Raffinerie Ingolstadt GmbH and Independent Belgium Refinery NV (together the “Borrowers”). This new Facility demonstrates Gunvor’s successful strategy to grow and diversify its financing sources to support new investments and existing operations.
ABN AMRO Bank N.V. (“ABN AMRO”) and ING Bank N.V. (“ING”) acted as “Joint Coordinators” in the Facility. ING was Active Bookrunner and Documentation Agent and ABN AMRO acts as Facility Agent. ABN AMRO and DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, are the Issuing Banks.
The Facility, which is guaranteed by the Company, will be used for general corporate and working capital purposes of the Borrowers via OBSIs issued in the form of standby letter of credits, bid bonds, performance bonds and/or guarantees.
The Facility, which was launched at US $250 million, was significantly oversubscribed after syndication and subsequently increased to US $290 million.
The participating banks in the Facility are as follows:
Mandated Lead Arrangers and Bookrunners
Mandated Lead Arrangers