Gunvor USA completed a $500 million borrowing base credit facility, which will support the company’s newly established operations in the U.S. Rabobank served as administrative agent for the transaction.
Gunvor USA has opened an office in Houston that initially will be trading refined products, natural gas and asphalt/bitumen.
The new facility is jointly lead-arranged by Rabobank New York Branch, and ABN Amro Capital USA. The other lenders are ING Capital, Natixis, Société Générale and Credit Agricole.
As part of its U.S. expansion, Gunvor USA has initiated a relationship with Bank of Texas, Houston Branch. Bank of Texas has been appointed as Gunvor USA’s primary cash management bank.
Gunvor USA is a wholly-owned indirect subsidiary of Gunvor Group, a global independent energy commodity trader.