Gunvor secures US $1.885 billion sustainability-linked, multi-currency revolving credit facility

The Facility consists of two tranches, available to Gunvor International B.V. and Gunvor SA:

Tranche A: US $1.775 billion 364-day Revolving Credit Facility with three 364-day extension options
Tranche B: US $490 million 3-year Revolving Credit Facility with one 364-day extension option

Thanks to strong support from existing and new banking partners, the Facility ended up substantially upsized versus last year. Additional liquidity was successfully raised in both tranches.

The RCF will be used for general corporate purposes, including the refinancing of the existing US $1,535,000,000 364-day tranche of the 2023 European Revolving Credit Facilities Agreement, and the US $280,000,000 3-year tranche of the 2022 European Revolving Credit Facilities Agreement.

The Facility has a US $400 million Accordion Option and complements the existing US $350 million 3-year tranche of the 2023 European Revolving Credit Facilities Agreement.

The Facility continues to come with a comprehensive set of ESG-linked KPIs: reduction of Scope 1 and 2 Greenhouse Gas (GHG) emissions; reduction of Scope 3 GHG emissions to improve the energy efficiency of the shipping fleet; the investment in non-fossil fuel projects; and the assessment of the Group’s assets, JVs, and suppliers against Human Rights principles. Each KPI is annually tested and externally verified.

"We are pleased to see growing support from our financing partners and to onboard new lenders in the Group’s flagship facility. The increase in commitments demonstrates the strong relationship the Company has with its banking group and its support of our growth strategy,” said Jeff Webster, Chief Financial Officer of Gunvor Group.

Arab Petroleum Investments Corporation (APICORP), Coöperatieve Rabobank U.A., Crédit Agricole Corporate and Investment Bank, Emirates NBD Bank (P.J.S.C), London Branch, ING Bank N.V., Amsterdam, Lancy / Geneva Branch, Mizuho Bank, Ltd., Natixis CIB, Qatar National Bank (Q.P.S.C.) Paris Branch, SMBC Bank International plc, Société Générale, UBS Switzerland AG and UniCredit Bank GmbH (together the “Bookrunning Mandated Lead Arrangers”) were mandated to arrange the Facility. Coöperatieve Rabobank U.A., Credit Agricole Corporate & Investment Bank, ING Bank N.V., Natixis CIB, SMBC Bank International plc, Société Générale and UniCredit Bank GmbH acted as Active Bookrunners while UBS Switzerland AG is Facility and Swingline Agent. Credit Agricole Corporate & Investment Bank and SMBC Bank International plc acted as Joint Sustainability Coordinators of the Facility.

First Abu Dhabi Bank PJSC joined as new Senior Mandated Lead Arranger.

Citibank N.A., Jersey Branch, Erste Group Bank AG and KfW IPEX-Bank GmbH are Mandated Lead Arrangers.

Banco BPM S.p.A, Bank of China Limited London Branch, China Construction Bank Corporation, Beijing, Swiss Branch Zurich, DBS Bank Ltd., London Branch, DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, Industrial and Commercial Bank of China Limited, London Branch, OTP Bank plc. and Sumitomo Mitsui Trust Bank, Limited (London Branch) are Lead Arrangers. National Bank of Ras Al-Khaimah and Nedbank joined as new Lead Arrangers.

ABC International Bank Plc, AfrAsia Bank Limited, Arab Bank (Switzerland) Ltd, Banque de Commerce et de Placements SA, CaixaBank S.A., China CITIC Bank Corporation Limited, London Branch, Commerzbank AG, London Branch, Europe Arab Bank SA, First Commercial Bank London Branch, GarantiBank International N.V, Habib Bank AG Zurich, Mashreqbank psc, Raiffeisen Bank International AG and Union de Banques Arabes et Francaises – UBAF are Arrangers. Lloyds Bank plc joined as new Arranger.

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, bulk materials and base metals from where they are sourced and stored to where they are demanded most. Gunvor, which generated turnover of US $127 billion on volumes of 177 million MT in 2023. The Group’s main trading offices are in Geneva, Singapore, Houston, Stamford, Calgary, London, Shanghai and Dubai, supported by a network of more than 20 representative and other trading offices around the globe. For more information, visit www.gunvorgroup.com

Includes a US $1.75 billion one-year tranche, US $584 million two-year tranche and a US $500 million accordion feature
Rabobank acted as lead arranger on the transaction along with Societe Generale, ING Capital and MUFG Bank

HOUSTON – Gunvor USA LLC, an indirect wholly-owned subsidiary of Gunvor Group Ltd, has successfully closed the syndication of its US $2.34 billion uncommitted borrowing base credit facility. The facility, which benefited from strong oversubscription, includes a US $1.75 billion one-year tranche and a US $584 million two-year tranche, as well as a US $500 million accordion feature to support future growth.

The proceeds of the facility will refinance Gunvor USA’s existing US $1.94 billion borrowing base facility, which was initially launched in October 2023 and later increased through an accordion feature in May 2024. The purpose of the upsized facility is to provide continued working capital financing for the company’s merchant activities and fund general corporate purposes.

“Gunvor USA’s successful capital raise reflects the continued confidence of our banking partners in the U.S. business and Gunvor Group globally,” said David Garza, managing director of Gunvor USA. “Our business model has proven to be resilient during times of market stress. That success, combined with bank market support, affords us the ability to focus on strategic growth opportunities across North America.”

Thomas Smith, regional CFO for the Americas, commented: “We take pride in strong global collaboration across Gunvor. Our 21 financing partners—including four new lenders this year—have shown robust support for our company’s strategy and positive outlook.”

The facility is led by Rabobank, which serves as administrative agent, mandated lead arranger, active bookrunner, coordinator and left lead. Societe Generale, ING Capital and MUFG Bank also acted as mandated lead arrangers, the foremost holding responsibility as active bookrunner, while the latter both contribute as passive bookrunners.

Citibank N.A., Credit Agricole Corporate and Investment Bank, Natixis, New York Branch, and Sumitomo Mitsui Banking Corporation each serve as joint lead arrangers and share co-syndication agent duties.

Bank of China, New York Branch and First Abu Dhabi Bank USA N.V. join the facility as new co-documentation agents together with Deutsche Bank AG New York Branch, Industrial and Commercial Bank of China Limited, New York Branch, Mizuho Bank Ltd. and UBS Switzerland AG all acting in the same capacity.

Zukerman Gore Brandeis & Crossman, LLP serves as counsel to the administrative agent. McGuireWoods LLP serves as counsel to the borrower.

About Gunvor Group
Gunvor Group Ltd is one of the world’s largest independent commodities trading houses by turnover creating logistics solutions that safely and efficiently move physical energy, bulk materials and base metals from where they are sourced and stored to where they are demanded most. Gunvor Group, which generated turnover of US $127 billion on volumes of 177 million MT in 2023, has committed to cut Scope 1 and 2 emissions by 40% by 2025. The Group’s main trading offices are in Geneva, Singapore, Houston, Stamford, Calgary, London, Shanghai and Dubai, supported by a network of more than 20 representative and other trading offices around the globe. For more information, visit www.gunvorgroup.com.

SINGAPORE – Gunvor Singapore Pte. Ltd. (the “Borrower”), a wholly-owned subsidiary of Gunvor Group Ltd (“Gunvor” or the “Group”), has closed a US $1.2 billion sustainability-linked, syndicated revolving credit facility (“RCF” or “Facility”) on 14 June 2024.

The Facility, which was launched initially at US $750 million in April 2024, benefited from strong support from Gunvor’s banking partners and attracted new banks, and closed significantly oversubscribed by over 60%, increasing the total facility amount from the previous year. The Borrower has further upsized the Facility by US $120 million via an accordion feature, which was structured to accommodate two banks that joined the Facility after signing, bringing the total Facility amount to US$1.32 billion as of 12 July 2024.

The 364-day Facility, which is guaranteed by the Company and includes two 12-month extension options, will be used for general corporate and working capital purposes, including the refinancing of the Borrower’s existing US$ 1.035 billion 2023 Asia Sustainability-linked Revolving Credit Facility.

Similar to previous financings, the Facility includes four sustainability Key Performance Indicators (KPIs) supporting the Group’s strong commitment to improve the environmental impact of its trading operations and to invest in sustainable commodities and businesses. The KPIs relate to the reduction of Scope 1 and 2 Greenhouse Gas (GHG) emissions; reduction of Scope 3 GHG emissions associated with the improvement of energy efficiency of the shipping fleet; the investment in non-fossil fuel projects; and the assessment of the Group's assets, JVs and suppliers against Human Rights principles. Each KPI is tested annually and verified externally in line with LMA SLL principles.

"The successful renewal of our Asian RCF is the result of the deep collaboration between Gunvor and its banking partners. The strong relationship we have with our core financing partners, enhanced by the welcome addition of several new lenders into our upsized anchor facility, demonstrates their support for the Group’s strong performance and positive outlook," said Jean Rohr, Gunvor’s Regional CFO for Asia-Pacific.

Abu Dhabi Commercial Bank PJSC, China CITIC Bank International Limited, DBS Bank Ltd., MUFG Bank, Ltd. and Oversea-Chinese Banking Corporation Limited were mandated to arrange the Facility and acted as the Active Bookrunning Mandated Lead Arrangers for the Facility. Agricultural Bank of China Limited, Singapore Branch, Arab Petroleum Investments Corporation, Emirates NBD Bank (P.J.S.C), Singapore Branch, First Abu Dhabi Bank PJSC – Singapore Branch, Natixis, Singapore Branch and State Bank of India, Singapore Branch remain as the Bookrunning Mandated Lead Arrangers. Indian Bank and Union Bank of India, DIFC Branch, Dubai joined as new Bookrunning Mandated Lead Arrangers. DBS Bank Ltd. also acted as syndication coordination agent, while Natixis, Singapore Branch also acted as Facility Agent, legal and documentation agent and sustainability coordinator of the Facility.

Coöperatieve Rabobank U.A., Singapore Branch, UBS AG, Crédit Agricole Corporate and Investment Bank, Singapore Branch, and ING Bank N.V., Singapore Branch are Senior Mandated Lead Arrangers.

China CITIC Bank Corporation Limited, Shanghai Branch joined as a new Mandated Lead Arranger, while Mizuho Bank, Ltd, Société Générale, a public limited company incorporated in France, acting through its Hong Kong branch, and United Overseas Bank Limited are Mandated Lead Arrangers.

Furthermore, Westpac Banking Corporation, Singapore Branch, Bank of China Limited, Singapore Branch and China Construction Bank Corporation Singapore Branch all joined as new Lead Arrangers, whereas Commerzbank Aktiengesellschaft, Singapore Branch, Habib Bank Limited, Singapore Branch, Krung Thai Bank Public Company Limited, Singapore Branch, and Sumitomo Mitsui Banking Corporation Singapore Branch are the Lead Arrangers.

Sumitomo Mitsui Trust Bank, Limited Singapore Branch, Banque Internationale de Commerce - BRED (Suisse) SA, and National Bank of Fujairah PJSC remain as Arrangers.

About Gunvor Group
Gunvor Group is one of the world's largest independent commodities trading houses by trading volume, creating logistics solutions that safely and efficiently move physical energy from where it is sourced to where it is demanded most. With strategic investments in industrial infrastructure (refineries, pipelines, storage and terminals), Gunvor further generates sustainable value across the global supply chain for its customers. The Group's 3 main trading hubs are in Geneva, Singapore and Houston, with other trading offices in Stamford, Dubai, London and Shanghai, supported by a network of more than 20 representative and other trading offices around the globe.

GENEVA – Gunvor Group, a leading global physical energy trading company, has closed a EUR 400 million, 5-year term loan (the “Facility”) guaranteed by SACE, the Italian Export Credit Agency (“ECA”) with UniCredit acting as Global Coordinator. The goal of the Facility is to support Italian industry by securing natural gas and liquefied natural gas (LNG) supplies while promoting the export of Italy’s goods and services. Gunvor is a leading global trader of LNG, and one of the largest physical natural gas traders in Europe.

“Gunvor is pleased to support SACE’s push strategy by helping secure energy supplies to the country and having the opportunity to further grow the business with Italian customers and suppliers,” said Jeff Webster, Gunvor Group Chief Financial Officer.

"In times of unprecedented complexity, the need for innovative business support mechanisms becomes crucial. We take pride in this operation, which, as part of our Push Strategy, aids Italian companies in exploring new markets while facilitating access to relevant energy supplies," stated Ciro Aquino Regional Manager Middle East – Head of Dubai Office SACE. The support of strategic imports represents a new and timely initiative by SACE, aligned with the objectives of the INSIEME 2025 Industrial Plan. Its goal is to improve the resilience of the national economic landscape, relaunch the competitiveness of companies in global markets, and consolidate growth within domestic markets.

“UniCredit is proud to arrange and coordinate this Facility, which marks a significant step in bolstering gas security across Europe. Its role as a novel facility type for commodity traders underscores our commitment to ensuring reliable energy supplies while innovating trade finance strategies in an ever-evolving energy landscape,” said Stefan Koller, Global Head of Asset Based Financing at UniCredit.

UniCredit Bank AG acted as Global Coordinator, Bookrunner, Documentation Agent and is the Facility Agent. Crédit Agricole Corporate And Investment Bank, DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt Am Main, ING Bank N.V. and Unicredit Bank AG act as Mandated Lead Arrangers and Erste Group Bank AG acts as Lead Arranger for the Facility.

Clifford Chance, as Legal Counsel to SACE and UniCredit, contributed to finalising the transaction.

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 and terminals —Gunvor further generates sustainable value across the global supply chain for its customers. In 2022, Gunvor Group generated US $150 billion in revenue on 165 million metric tons of turnover. The Group’s main trading offices are in Geneva, Singapore, Houston, Stamford, Calgary, Dubai, and London, with a network of more than 20 representative and other trading offices around the globe. More information can be found at GunvorGroup.com or @Gunvor.

HOUSTON (8 November 2023) – Gunvor USA LLC (“Gunvor USA” or “the Company”), an indirect, wholly-owned subsidiary of Gunvor Group Ltd (“Gunvor” or “the Group”), has successfully closed the syndication of its US $1.60 billion uncommitted borrowing base credit facility (“the Facility”). The Facility includes a US $1.28 billion one-year tranche, a US $320 million two-year tranche, and a US $500 million accordion feature, which remains available to support future growth.

The proceeds of the Facility will refinance Gunvor USA’s existing $1.45 billion borrowing base facility signed in October 2022, provide continued working capital financing for the Company’s merchant activities, and fund general corporate purposes.

“Gunvor USA’s successful oversubscription reflects the continued confidence of our banking partners toward the U.S. business and Group globally,” said David Garza, Managing Director of Gunvor USA. “Our business model has proven to be resilient during times of market stress, and that success combined with bank market support affords us the ability to focus on growth opportunities.”

The Facility is led by Rabobank, which serves as Administrative Agent, Joint Lead Arranger, Active Bookrunner, Coordinator, and Left Lead. Société Générale, was mandated as Active Bookrunner and Joint Lead Arranger. ING Capital LLC, was mandated as Passive Bookrunner and Joint Lead Arranger. Natixis, New York Branch, Credit Agricole Corporate and Investment Bank, and MUFG Bank Ltd., each serve as Joint Lead Arrangers and share Co-Syndication Agent duties. Sumitomo Mitsui Banking Corporation, Citibank, N.A., and Industrial and Commercial Bank of China Limited, New York Branch remain as Co-Documentation Agents.

Thomas Smith, Regional CFO for the Americas, commented: “Despite a challenging credit market, the Facility benefitted from the strong support of our 18 new and existing lenders, being oversubscribed in syndication and subsequently increased to $1.6 billion. The increase reflects the growing collaboration between Gunvor USA and its banking partners who remain supportive of the Company’s strategy for continued participation in traditional energy markets while pursuing its energy transition goals.”

Zukerman Gore Brandeis & Crossman, LLP serves as counsel to the Administrative Agent. McGuireWoods LLP serves as counsel to the borrower.

About Gunvor USA
Gunvor USA LLC is a wholly-owned indirect subsidiary of Gunvor Group Ltd, one of the world’s largest independent commodities trading houses by turnover. Gunvor Group creates logistics solutions that safely and efficiently move physical energy and bulk materials from where they are sourced 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. In 2022, Gunvor Group generated US $150 billion in revenue on 165 million MT of turnover. The Group’s main trading offices are in Geneva, Singapore, Houston, Stamford, Calgary, Dubai, and London, with a network of more than 20 representative and other trading offices around the globe. More information can be found at GunvorGroup.com or @Gunvor

Four new banks join existing lending group Gunvor Group Ltd (“Gunvor” or the “Group”) has refinanced and increased its Off Balance Sheet Instruments Revolving Credit Facility (“Facility”) to US $1.37 billion, up from US $990 million in 2022, in favour of Gunvor SA and Gunvor International B.V. The Facility received strong support from Gunvor’s existing banking and institutional partners and welcomed four new participants. The Facility will support Gunvor in connection with its obligations to issue directly or indirectly off-balance sheet instruments as part of its business in the form of standby letters of credit, bid bonds, performance bonds, and various other types of guarantee instruments. “The sizeable increase in the Facility reflects Gunvor’s growth over the past two years and our desire to expand globally,” said Jeff Webster, Gunvor’s Chief Financial Officer. “This is a clear demonstration of the commitment of our banking and insurance partners to support our strategy.” ING Bank N.V. (“ING”) acted as sole Coordinator and Documentation Agent in the Facility. Société Générale will continue its role as the Facility Agent and Coöperatieve Rabobank U.A., ING Bank N.V., Amsterdam, Lancy/Geneva Branch, Natixis, Raiffeisen Bank International AG, Société Générale and SMBC Bank International Plc are the Issuing Banks. The Facility, which was launched at US $1 billion was significantly oversubscribed after syndication and subsequently increased to US $1.37 billion. The participation banks and institutions in the Facility are as follows:

ABC International Bank Plc
Abu Dhabi Commercial Bank PJSC
Atradius
Bank of China Limited, London Branch
CA Indosuez (Switzerland) SA
China Construction Bank Corporation, Beijing, Swiss Branch Zurich
Commercial Bank of Dubai PSC
Commerzbank AG, London Branch
Coöperatieve Rabobank U.A.
Credendo Guarantees & Specialty Risks
Credit Suisse (Switzerland) Ltd.
DBS Bank Ltd., London Branch
Deutsche Bank AG, Amsterdam Branch
DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main
Erste Group Bank AG
Euler Hermes SA
First Abu Dhabi Bank (PJSC)
HCC International Insurance Company Plc
Industrial and Commercial Bank of China Limited, London Branch
ING Bank N.V.
Liberty Mutual Insurance Europe SE
Lloyds Bank PLC
Markel Insurance SE
Mizuho Bank, Ltd
Natixis
Raiffeisen Bank International AG
SMBC Bank International plc
Société Générale
Sumitomo Mitsui Trust Bank, Limited (London Branch)
UBS Switzerland AG

Gunvor Singapore Pte. Ltd. (the “Borrower”), a wholly-owned subsidiary of Gunvor Group Ltd (“Gunvor” or the “Company”), has closed a US $1.035 billion sustainability-linked, syndicated revolving credit facility (the “Facility”) on 16 June 2023. The Facility, which was launched initially at US $550 million in April 2023, benefited from strong support from a total of 26 existing and new banks and closed significantly oversubscribed by over 88 percent, increasing the total facility amount from the previous year. The Borrower has further upsized the Facility by US $90 million via an accordion feature, which was structured to accommodate two banks that joined the Facility after June 2023, bringing the total Facility amount to US$1.125 billion as of 14 July 2023. The 364-day Facility, which is guaranteed by the Company and includes two 12-month extension options, is intended to refinance the Borrower’s existing indebtedness, and for general corporate and working capital purposes. This is the second time the Borrower is using the sustainability-linked loan structure, which was first introduced in the Company’s European flagship corporate facility in 2021 and adopted in the Asian RCF in 2022. It includes ambitious sustainability Key Performance Indicators (KPIs) covering climate change and Human Rights, which will be tested annually and verified externally, to showcase Gunvor’s commitment to improve the environmental impact of its trading operations and to invest in sustainable commodities and businesses. The KPIs relate to the reduction of Scope 1 and 2 Greenhouse Gas (GHG) emissions; reduction of Scope 3 GHG emissions associated with the improvement of energy efficiency of the shipping fleet; the investment in non-fossil fuel projects; and the assessment of the impact of the Group's assets, JVs and suppliers on Human Rights. "The successful renewal of our Asian RCF is the result of the deep collaboration between Gunvor and its banking partners, supported by our strong performance and positive outlook. We are also glad to welcome new lenders joining our anchor facility", said Jean Rohr, Gunvor’s Regional CFO for Asia-Pacific. Abu Dhabi Commercial Bank PJSC, China CITIC Bank International Limited, DBS Bank Ltd., MUFG Bank, Ltd., Natixis, Singapore Branch and Oversea-Chinese Banking Corporation Ltd were mandated to arrange the Facility and acted as the Active Bookrunning Mandated Lead Arrangers for the Facility, with Agricultural Bank of China Limited, Singapore Branch, Arab Petroleum Investments Corporation (APICORP), Emirates NBD Bank (P.J.S.C), Singapore Branch, First Abu Dhabi Bank PJSC – Singapore Branch and State Bank of India, Singapore Branch joined as the Bookrunning Mandated Lead Arrangers. Natixis, Singapore Branch also acted as Facility Agent and Sustainability Coordinator of the Facility. Coöperatieve Rabobank U.A., Singapore Branch, Crédit Agricole Corporate and Investment Bank, Singapore Branch and ING Bank N.V., Singapore Branch are Senior Mandated Lead Arrangers. Indian Bank, Singapore joined as a new Mandated Lead Arranger, whereas Credit Suisse (Switzerland) Ltd., Société Générale, a public limited company incorporated in France, acting through its Hong Kong branch, Mizuho Bank, Ltd and UBS AG, Singapore Branch remain as Mandated Lead Arrangers. Furthermore, Habib Bank Limited, Singapore Branch joined as a new Lead Arranger, while Krung Thai Bank Public Company Limited, Singapore Branch, Sumitomo Mitsui Banking Corporation Singapore Branch remain as Lead Arrangers. Sumitomo Mitsui Trust Bank, Limited Singapore Branch, Banque Internationale de Commerce - BRED (Suisse) SA, Commerzbank Aktiengesellschaft, Singapore Branch, National Bank of Fujairah PJSC and United Overseas Bank Limited remain as Arrangers, with BCP Bank (Mauritius) Ltd. joining as a new Arranger.

The Facility will support the Asian fuel oil business and incorporate new digital reporting tools Gunvor Singapore Pte. Ltd. (“Gunvor Singapore”), a wholly-owned subsidiary of Gunvor Group Ltd (“Gunvor” or the “Company”), has closed a US $600 million borrowing base facility (“Facility”) to support the working capital needs of its Asian fuel oil business. The Facility, which has a one-year tenure and an accordion feature, covers import finance and funding of inventory, receivables and hedging positions, and will use Komgo’s new innovative digital solution for monitoring and reporting. The Facility and Security agent is Natixis CIB, Singapore Branch. Other participating banks include ING Bank N.V. Singapore Branch, Credit Agricole Corporate and Investment Bank Singapore Branch, and Abu Dhabi Commercial Bank PJSC. Arab Banking Corporation B.S.C. Singapore branch, joined via accordion. For the first time in any of its facilities, Gunvor has appointed digital trade service provider Komgo to be Digital Agent on the Facility. Komgo’s solutions will be deployed for monitoring of inventory, receivables, liabilities and hedging, and will further provide a digital reporting tool to reduce manual operations while increasing transparency for lenders. This will help automate, simplify and authenticate reporting, ensuring greater transactional security. Gunvor is a key player in the fuel oil market in Singapore, a core industry in the South East Asian trading hub, and draws on the region’s sophisticated storage and shipping infrastructure for its blending and logistics activities. “The strong support Gunvor received from both its core banks and new ones underscores the important role the Company plays in the regional maritime and shipping industry,” said Melissa Widjaja, Head of Structured Trade Finance Asia-Pacific at Gunvor. “Gunvor will continue to grow and serve the growing logistics needs of the Asia-Pacific region.” “We are proud to be entrusted by Gunvor Singapore to lead this financing activity. Besides supporting our client’s growth and development in the regional maritime and shipping industry, we are happy to be part of this digital transformation of a conventional type of financing to reduce operational handling and reporting,” said L-Thanh Nguyen, Head of Global Trade, Asia Pacific, Natixis Corporate and Investment Banking. "This deployment is particularly important in Asia, where this type of financing is less common than in other regions," said Nicolas Djelalian, Managing Director, Komgo Asia. “We believe the transformation of how banks and corporates use data to communicate will bring tremendous value to the entire ecosystem, and we're excited to be at the forefront of this innovation.”

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