Tag Refinery

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 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 Appoints New Technical Director Refineries, Hires New IBR Manager

GENEVA | 9 JANUARY 2013 Gunvor Group announces the appointment of a newly created position, Technical Director Refining, and the hiring of a new Refinery Manager for its Independent Belgium Refinery (IBR), consistent with the integration of refining into Gunvor’s operations. Marcel Mazenauer, refinery manager at Gunvor’s IBR, will move to the company’s Geneva office,

Deutsche Bank and VTB Support Gunvor’s Acquisition of Ingolstadt Refinery

GENEVA | 18 DECEMBER 2012 Gunvor Group (“Gunvor”) has mandated Deutsche Bank AG, London Branch (Bookrunner) and VTB Bank (Austria) AG as Mandated Lead Arrangers to arrange and underwrite a USD $100 million Secured Acquisition Facility (the “Facility”) to finance the acquisition of former Petroplus refinery and marketing activity in Ingolstadt, Germany. Gunvor is pleased

Die Gunvor Raffinerie Ingolstadt hat seit ihrer Übernahme 1 Million Tonnen Produkte verladen

INGOLSTADT | 12 DECEMBER 2012 Die Raffinerie Ingolstadt hat nach ihrer Übernahme durch die Gunvor Group im August ihren vollen Betrieb sehr schnell wieder aufgenommen und seitdem eine Million Tonnen Mineralölprodukte zur Auslieferung an Kunden überwiegend in Süddeutschland und Oberösterreich verladen. In nur drei Monaten konnte die Gunvor Raffinerie Ingolstadt (GRI) das Angebot und den

Gunvor Acquires Stake in TAL Pipeline

INGOLSTADT | 6 DECEMBER 2012 Affirming its long-term commitment to serving the German market, Gunvor Group (“Gunvor”) has acquired a 10 percent stake in the Transalpine Pipeline (TAL), which supplies Gunvor Raffinerie Ingolstadt (“GRI”). This acquisition will allow Gunvor to secure a long-term crude supply to GRI. The deal closed December 4. The Ingolstadt refinery,

Gunvor Closes USD $625 Million Syndication for Belgian Refinery, Oversubscribed by 25%

GENEVA | 31 OCTOBER 2012 Drawing on a diversified pool of European and international banks, Gunvor Group has successfully closed an oversubscribed borrowing base credit facility to support operations at the Independent Belgian Refinery (IBR). The facility launched at USD $500 million and closed oversubscribed at USD $625 million. “Confidence in Gunvor’s business plan for

Gunvor Hiring For New Jobs At German Refinery Operations

INGOLSTADT | 4 September 2012 Gunvor Raffinerie Ingolstadt GmbH and Gunvor Deutschland GmbH plan to hire about 30 additional employees for various functions at their respective operations. The two former Petroplus businesses restarted on August 24, following the completion of their acquisition by Gunvor Group Ltd, which provides integrated oil and energy trading products and

Gunvor Starts Ingolstadt Refinery

Restores Important Fuel Supply and Competition to Land-locked Bavaria INGOLSTADT | 27 August 2012 Gunvor Group Ltd has commenced operations at the former Petroplus refinery in Ingolstadt, Germany, having completed the acquisition of the refinery assets and relevant marketing activities. All regulatory and merger control approvals have been obtained. The official closing date was on