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Gunvor Signs USD 1.55 Bil. Revolving Credit Facility

21 June 2011

Gunvor Group Ltd (“Gunvor Group” or the “Company”) is pleased to announce the successful signing of a US$1,550,000,000 Revolving Credit Facility (the “Facility”) in favour of Gunvor International B.V. (“Gunvor International”), Gunvor SA and Gunvor Singapore Pte Ltd (“Gunvor Singapore”) (together the “Borrowers”).

The Facility was arranged by ABN AMRO Bank N.V., BNP Paribas, Crédit Agricole Corporate and Investment Bank, Credit Suisse AG, ING Bank N.V., Natixis, Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (trading as “Rabobank International”), Société Générale Corporate & Investment Banking and The Hongkong and Shanghai Banking Corporation Limited (together the “Bookrunning Mandated Lead Arrangers”). China Development Bank joined the Facility during general syndication as Bookrunning Mandated Lead Arranger.

BNP Paribas, Crédit Agricole Corporate and Investment Bank, ING Bank N.V., Natixis, Société Générale Corporate & Investment Banking and The Hongkong and Shanghai Banking Corporation Limited were active Bookrunners.

The Facility, which is guaranteed by the Company, will be used for general corporate purposes and to refinance Gunvor International’s existing US$1,060,000,000 revolving credit facility dated 23rd June 2010.

The Facility which was launched at US$1,100,000,000 was significantly oversubscribed and subsequently increased to US$1,550,000,000. The participating banks in the Facility are as follows:

Mandated Lead Arrangers and Bookrunners

  • ABN AMRO Bank N.V.
  • BNP Paribas
  • China Development Bank
  • Crédit Agricole Corporate and Investment Bank
  • Credit Suisse AG
  • ING Bank N.V.
  • Natixis
  • Rabobank International
  • Société Générale Corporate & Investment Banking
  • The Hongkong and Shanghai Banking Corporation Limited

Senior Mandated Lead Arranger

  • Sumitomo Mitsui Banking Corporation

Mandated Lead Arrangers

  • DBS Bank
  • Garanti Bank International
  • Industrial and Commercial Bank of China
  • KfW IPEX-Bank
  • Raiffeisen Bank International AG
  • The Royal Bank of Scotland plc
  • UBS

Lead Arrangers

  • UniCredit
  • Barclays
  • State Bank of India
  • United Overseas Bank
  • Banco Do Brasil S.A.
  • Bank of Baroda
  • Arab Petroleum Investment Corp (‘APICORP’)
  • Banque Cantonale de Genève
  • Commerzbank
  • Deutsche Bank
  • DZ Bank
  • ICICI Bank
  • WestLB

Arrangers

  • Bank Leumi
  • Bank of Taiwan
  • BHF Bank
  • Chinatrust Commercial Bank
  • First Commercial Bank
  • First Gulf Bank
  • Gulf International Bank
  • Mega International Commercial Bank Co.
  • UBAF

Lead Managers

  • Bangkok Bank
  • Bank BNI
  • Bank of East Asia

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