Daily News: April 28, 2014

ING Bank, Others Arrange $350MM Gunvor Singapore Revolver

Gunvor Singapore, a wholly owned subsidiary of Gunvor Group, has launched a $350 million syndicated revolving credit facility, which will support new investments and existing operations in the Asia-Pacific.

Bookrunners and mandated lead arrangers of the facility refinancing are Arab Petroleum Investments Corporation; DBS Bank; First Gulf Bank PJSC, Singapore Branch; ING Bank, Singapore Branch; Malayan Banking Berhad, Singapore Branch; Société Générale Corporate & Investment Banking; and ABN AMRO Bank, Singapore Branch. Rabobank International joined as MLA in senior syndication.

“Gunvor is in a strong position, having pursued a strategy to diversify how we finance our Asian activities with a number of dedicated borrowing bases in addition to our RCF,” said Jacques Erni, CFO Gunvor Group. “A number of core banks have already committed to join the syndication, and we’re very happy with the support we’ve seen from our banking partners.”