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GUNVOR SINGAPORE LAUNCHES US$550 MILLION REVOLVING CREDIT FACILITY
9 April 2015

Gunvor Singapore Pte Ltd (the “Borrower”), a wholly-owned subsidiary of Gunvor Group (“Gunvor” or the “Company”), today launched a US$550 million syndicated revolving credit facility (the “Facility”), which will support new activities and existing operations in the Asia Pacific.

DBS Bank Ltd (“DBS”), ING Bank N.V., Singapore Branch (“ING”), Malayan Banking Berhad, Singapore Branch (“Maybank”), Oversea-Chinese Banking Corporation Limited (“OCBC”), Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A., Singapore Branch (“Rabobank”), and Société Générale, Singapore Branch (“Société Générale” or “SG”) (together the “Bookrunning Mandated Lead Arrangers”) have been mandated to jointly arrange the Facility.  DBS, ING, Rabobank, and SG will act as Active Bookrunners.  United Overseas Bank Limited (“UOB”), ABN AMRO Bank N.V., Singapore Branch (“ABN”), CTBC Bank Co., Ltd. (“CTBC”), and Sumitomo Mitsui Banking Corporation, Singapore Branch (“SMBC”) have subsequently joined the deal as Senior Mandated Lead Arrangers. National Australia Bank (“NAB”) has also joined the deal as a Lead Arranger.

The Facility, which is guaranteed by the Company, will be used to refinance the maturing tranche of the Borrower’s US$546.6 million Revolving Credit Facility dated 3 June 2014, and to finance the general corporate and working capital requirements of the Borrower. The Facility will be offered in two tranches with a tenor of 1 year and 3 years respectively.

The standalone Asian Facility, first launched in 2012, is now complemented by the Company’s borrowing base facilities, Gunvor’s US $500 million bond, as well as the US$1.09 billion Revolving Credit Facility.  These facilities together support Gunvor’s established and continuing global growth strategy, which consists of geographic expansion, product diversification, and investments along the value chain.