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 partners, closing at USD 990 million with a sizeable increase from the previous year’s refinancing at USD 872.5 million. The Facility will support Gunvor in connection with its obligations to issue directly or indirectly off balance sheet instruments as part of its business, including bid bonds, performance bonds, and various other types of guarantee instruments. The Facility has a USD 300 million accordion option and a 364-day extension option.
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 participation banks and institutions in the Facility included: