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Gunvor launches us $900 million revolving credit facility
Gunvor has launched the syndication of a US $900 million Revolving Credit Facility to replace the maturing tranche, which is used to finance general corporate and working capital requirements.
Gunvor Group Posts 12% Increase in EBITDA for First Half 2014
For the first half, Gunvor’s EBITDA increased approximately 12% to US $395 million, up US $41 million over the first half 2013. Revenue remained steady at US $45 billion. Volumes increased to 71 million MT, compared with 61 million MT during the same period 2013, and included the addition of metals trading.
Gunvor increases renewed middle east facility to us $420 mil.
Gunvor Group has signed a US $420 mil. secured uncommitted borrowing base facility, which launched at US $300 mil. and was significantly oversubscribed, enabling Gunvor to increase it US $20 mil. over last year’s amount.
Gunvor refinery given german national occupational safety & health award
Gunvor Refinery Ingolstadt has been awarded the OHRIS certificate in recognition of the facility’s occupational safety management system from the Bavarian State Ministry of Labour and Social Welfare. OHRIS (Occupational Health and Risk Management System) is a tool developed by the Bavarian Labour Inspector together with the industry, in order to improve the health and […]
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