Gunvor SA and Gunvor Belgium N.V., both subsidiaries of Gunvor Group, have closed a US $725 million borrowing base facility (“Facility”), which will provide working capital for Gunvor’s refining activities in the Amsterdam-Rotterdam-Antwerp (ARA) region. The Facility was launched at US $700 million and was oversubscribed at US $805 million, before being scaled back to US $725 million.
Gunvor’s operations in the ARA consist of Gunvor Petroleum Antwerp, Gunvor Petroleum Rotterdam (GPR) and the Maasvlakte Olie Terminal (MOT)—the latter two of which were added to the Facility this year. Gunvor acquired GPR and its share in MOT in February.
ING acted as Coordinator and is the Facility- and Security Agent. In total, 13 banks participated in the Facility, which has a 364-day tenure whereby: ING Bank N.V. was Bookrunning Mandated Lead Arranger, and Rabobank was Senior Mandated Lead Arranger and Co-Arranger. Société Générale and DBS Bank LTD, London Branch were Mandated Lead Arrangers. Raiffeisen Bank International AG, Credit Suisse AG, Credit Agricole (Suisse) S.A, Nedbank Ltd London Branch, ABN Amro Bank N.V, Unicredit Bank AG, Sumitomo Mitsui Trust Bank, Mizuho Bank Ltd all served as Lead Arrangers. Bank of Tokyo Mitsubishi UFJ, Ltd was Arranger.
Gunvor Group (“Gunvor”), a leading global physical energy commodities trader, is partnering with VARO Energy (“VARO”), which will build large-scale Sustainable Aviation Fuel (SAF) manufacturing at the extensive Gunvor Energy Rotterdam (GER) site. The facility will have a total production capacity of 350 kpta; approximately 70% will be SAF, with the remainder a mixture of […]
As a part of Gunvor Group’s commitment to support the Energy TransitionEnergy Transition refers to the global shift from traditional fossil-fuel based energy systems to more sustainable and renewable sources of energy. It involves the gradual transformation of the energy sector,... Read more, we have been making significant investments to expand our trading and transform […]
Dutch tank storage company Vopak is acquiring the shares of Gunvor Petroleum Antwerp from commodity trader Gunvor Group Ltd (“Gunvor”), giving it access to the Gunvor concession in the Antwerp port area. Vopak is committed to sustainably redeveloping the site. For example, together with the Port of Antwerp-Bruges, the company will focus on joint development/implementation […]
Gunvor Group Ltd (“Gunvor” or the “Group”) has signed a USD 990 million Off Balance Sheet Instruments Revolving Credit Facility (“Facility”) in favor of Gunvor SA, Gunvor International B.V., Gunvor Deutschland GmbH, Gunvor Singapore Pte. Ltd., Gunvor Raffinerie Ingolstadt GmbH and Gunvor Petroleum Rotterdam B.V.. The Facility received strong support from Gunvor’s banking and institutional […]
Air Products (NYSE:APD) and Gunvor Petroleum Rotterdam (GPR), a wholly-owned subsidiary of Gunvor Group (Gunvor), have signed a joint development agreement for an import terminal in Rotterdam. The agreement responds to the accelerating demand for green energy sources to meet climate objectives and the need to diversify energy sources. The import terminal is expected to […]
GES is acquiring part of the assets of Stargate Terminal from Gunvor Group and will develop over 20 hectares of vacant land. GES has ambitious plans to develop a large industrial site at Rotterdam for storage solutions for low carbon products to facilitate the energy transitionEnergy Transition refers to the global shift from traditional fossil-fuel […]
AOP suma así a siete grandes compañías dentro de la organización y aumenta su representatividad. Gunvor cuenta con una bioplanta en el País Vasco y otra en Huelva. El grupo Gunvor se ha unido a la Asociación Española de Operadores de Productos Petrolíferos como compañía socia de pleno derecho tras el acuerdo de la junta […]
Gunvor: Repeat of Q2 Volatility Hard to See Despite having its business model tested during the first half of 2020 commodities trader Gunvor’s robust risk managementRisk management refers to the process of identifying, assessing, and prioritizing potential risks in order to minimize their negative impact on an organization or individual. In the energy commodities trading... […]
Gunvor Group (“Gunvor”), one of the world’s largest physical energy commodities traders, has closed a new sustainability-linked borrowing base facility (“Facility”) to support operations at Gunvor Refinery Ingolstadt. The EUR 450 million Facility complements Gunvor’s other US $725 million sustainability-linked borrowing base for refining activities in the ARA, and similarly has an interest rate dependent on the company’s year-on-year improvements in multiple sustainability criteria in the areas of “environment”, “social impact” and “governance”.
Gunvor Group (“Gunvor”), one of the world’s largest physical energy commodities traders, has successfully met targets for its US $725 million sustainability-linked borrowing base financing and their performance has been subject to third party assurance from PricewaterhouseCoopers. Gunvor is the first energy commodities trading company to close a financing in which the interest rate is […]