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Gunvor Closes New US $290 Mil. RCF to Support European Activities
Gunvor Group Ltd (“Gunvor” or the “Group”) has closed a new US $290 million uncommitted off balance sheet instrument (“OBSI”) revolving credit facility (the “Facility”) in favour of Gunvor SA, Gunvor International B.V., Gunvor Deutschland GmbH, Gunvor Raffinerie Ingolstadt GmbH and Independent Belgium Refinery NV (together the “Borrowers”). This new Facility demonstrates Gunvor’s successful strategy […]
Gunvor Closes $500 Mil. Refinancing For Ingolstadt Refinery Borrowing Base
Gunvor Group has successfully closed the refinancing of its US $500 mil. uncommitted secured revolving borrowing base facility, which will initially refinance the maturing facility that had been signed in July 2013, before continuing to finance the Group’s refining and marketing activities in greater Bavaria and the surrounding countries.
Gunvor Closes Asian RCF Oversubscribed At US $536.6 Million
SINGAPORE | 5 JUNE 2014 Gunvor Singapore Pte Ltd (the “Borrower”), a wholly-owned subsidiary of Gunvor Group (“Gunvor”, or the “Company”), has closed a US $536.6 mil. syndicated revolving credit facility (the “Facility”), which will support existing operations in the Asia-Pacific region. The Facility was oversubscribed, having launched at US $350 mil. Due to continuing...
New gunvor position to focus on health, safety, environment & community
GENEVA | 4 June 2014 Group HSEC Manager will oversee sustainability for multi-billion dollar industrial asset portfolio To strengthen its commitment to safety, health, the environment and the communities in which it operates worldwide, Gunvor Group welcomes Benjamin Winterton as Group HSEC Manager.
Gunvor Singapore Launches US $350 Mil. Revolving Credit Facility
SINGAPORE | 28 APRIL 2014 Gunvor Singapore Pte Ltd (the “Borrower”), a wholly-owned subsidiary of Gunvor Group (“Gunvor” or the “Company”), has launched a US $350 mil. syndicated revolving credit facility (the “Facility”), which will support new investments and existing operations in the Asia-Pacific. “Gunvor is in a strong position, having pursued a strategy to...
Gunvor Group Results 2013
Gunvor Group Ltd (“Gunvor”) today released its full year 2013 results, ending 31 December 2013. For the year, Gunvor’s EBITDA increased by 25% to US $719 mil., up from US $575 mil. the year prior. This represents an average 28% increase in EBITDA year-on-year for the last three years. Read More
Gunvor Ensures Continued Operations
GENEVA | 20 MARCH 2014 Anticipating potential economic sanctions so to ensure with certainty the continued and uninterrupted operations of Gunvor Group Ltd’s activities, the shares of the company held by Mr. Gennady Timchenko were sold on March 19 from his personal holding vehicle to Mr. Torbjorn Törnqvist personally. As a result, Mr. Törnqvist has
L’Agefi: “Challenges & Opportunities in a Changing Market”
GENEVA | 24 FEBRUARY 2014 The following is an English translation of an article authored in French by Gunvor’s director of research and analysis published in the Swiss financial outlet L’Agefi: Challenges & Opportunities in a Changing Market By David Fyfe, Director of Research & Analysis Major physical energy trading houses have in the last
Gunvor Closes USD 1.515 Billion Revolving Credit Facility
GENEVA | 9 DECEMBER 2013 Gunvor Group Ltd (“Gunvor” or “Group”) has signed a USD 1.515 billion Revolving Credit Facility (RCF) in favor of Gunvor International B.V. and Gunvor SA (together the “Borrowers”). Launched at USD 1.2 billion, the RCF was significantly oversubscribed during syndication and was subsequently increased. “The expanding commitment we see from
Gunvor Launches USD 1.2 Bil. Revolving Credit Facility
GENEVA | 24 OCTOBER 2013 Gunvor Group Ltd (“Gunvor” or the “Group”) is pleased to announce the launch of a USD 1.2 billion revolving credit facility (the “Facility”) in favor of Gunvor International B.V. and Gunvor SA (the “Borrowers”). The launch is a part of Gunvor’s successful strategy to both grow and diversify its financing
Gunvor Closes New USD 675 Mil. Financing For Ust Luga Oil Products Terminal
GENEVA | 16 SEPTEMBER 2013 Gunvor Group (“Gunvor” or the “Company”) announces the closing of a USD 675 Million Long-Term Secured Facility (the “Facility”) to finance the Company’s flagship investment, its Ust Luga Oil Products Terminal in the Russian Federation (the “Terminal”). “We are very pleased with the outcome of the Facility, which is non-recourse
Gunvor Closes Oversubscribed USD 400 Mil. Middle East Borrowing Base
DUBAI | 1 AUGUST 2013 Gunvor Group, here comprising Gunvor S.A, Gunvor Middle East DMCC and Gunvor Singapore Pte Ltd, (together “Gunvor” or the “Company”) has signed USD 400 mil. secured uncommitted borrowing base facilities (the “Facilities”). The Facilities available to the Borrowers, launched at USD 300 mil. and were significantly oversubscribed, enabling an increase
Gunvor Closes New USD 500 Mil. Borrowing Base Facility
MUNICH | 1 AUGUST 2013 Locally-sourced borrowing base supports operations at German refinery Gunvor Group has signed a new, locally-sourced USD 500 million borrowing base revolving credit facility (the “Facility”) to finance the working capital needs of the company’s refinery in Ingolstadt, Germany. UniCredit Bank AG and Deutsche Bank AG led the facility as Bookrunning
GE Capital And Gunvor Launch EUR 225 Mil. Receivables Financing Program
GENEVA| 29 JULY 2013 Gunvor Group and GE Capital have launched a EUR 225 mil. factoring program for Gunvor’s receivables portfolio to finance part of Gunvor’s German refining business. The deal is a part of Gunvor’s broader strategy to diversify its financing base while reducing liquidity risk throughout its businesses. “By freeing up trade finance
Gunvor and Oiltanking to Build New Indonesian Terminal
SINGAPORE | 12 JUNE 2013 Oil products terminal in Karimun will meet continuing Asian demand growth Gunvor Group together with Oiltanking GmbH announce the construction of a greenfield terminal, Oiltanking Karimun, on the island of Karimun, Indonesia. The facility, which will have an initial petroleum storage capacity of 760,000 cbm, will meet the incremental petroleum
Gunvor Singapore Signs USD 850 Mil. Revolving Credit Facility
SINGAPORE | 6 JUNE 2013 Gunvor Singapore Pte Ltd (the “Borrower”), a wholly-owned subsidiary of Gunvor Group (“Gunvor”), has signed a USD 850 Mil. syndicated revolving credit facility (“RCF”). The facility, which launched at USD 650 Mil. and attracted over USD 1 Bil. in commitments, closed almost 60% oversubscribed. Its success represents continued strong interest