ABN AMRO, Others Arrange Gunvor $900MM Revolver
Gunvor Group announced the launch of the syndication of a $900 million revolver in favor of Gunvor International B.V. and Gunvor SA. The facility will replace the maturing tranche of the borrower’s revolver dated December 6, 2013, and be used to finance general corporate and working capital requirements.
ABN AMRO Bank N.V., Credit Suisse AG, DBS Bank Ltd, ING Bank, Natixis, Rabobank, Société Générale Corporate & Investment Banking, and UBS AG (together the bookrunning mandated lead arrangers) were mandated to arrange the facility. ABN AMRO, ING, Natixis, Rabobank and Société Générale Corporate & Investment Banking will act as active bookrunners and Credit Suisse as facility and swingline agent.
The first revolver for Gunvor in Europe was launched in 2008 and is now complemented by the group’s borrowing base facilities, as well as Gunvor’s $500 million bond and its Asian revolver. These facilities support Gunvor’s established and continuing global growth strategy, which consists of geographic expansion, product diversification, and investments along the value chain.
The facility consists of two tranches, available to Gunvor International B.V. and Gunvor SA: a tranche A, 364-day revolver, and Tranche B 3-year revolver.
A bank meeting will take place in Geneva on 15th October 2014.