Gunvor Group Ltd Successfully Extends European Syndication

Informations

• Publié par: gunvor-group-ltd
• Nombre de lectures: 9
• Langue: English

Extrait

Gunvor Group Ltd Successfully Extends

European Syndication

PR Newswire

GENEVA, June 26, 2012

GENEVA

,

June 26, 2012

/PRNewswire/ --

Gunvor Group Ltd today announced the successful completion of an extension

of the European one-year tranche of its Revolving Credit Facility (RFC). The

extension is for 6-months, with a maturity in

December 2012

. The refinancing

process for the European syndication will begin in September.

The extension comes on the heels of Gunvor Singapore Pte Ltd signing a

USD635 Million

syndicated RCF, which drew considerable new support from

local banks in the Asia-Pacific Region, affirming Gunvor's decision to create a

stand-alone syndication. The Asia-Pacific Facility was launched at

USD470

Million

and closed oversubscribed by 35 percent.

"Confidence as expressed by European banks and recently by our over-

subscribed

Asia-Pacific

syndication is enabling Gunvor to realize its strategy of

diversification to become an integrated trading company," said Torbjörn

Törnqvist, CEO of Gunvor Group.

Proceeds of the RCF extension will be used to refinance existing debt and to

finance general and working capital requirements of the Company.

Gunvor Group, one of the world's largest independent commodity trading

companies by turnover, provides integrated trading products and logistics

services for participants in the worldwide oil and energy markets.

Headquartered in

Cyprus

, the company's main trading offices are

Geneva

and

Singapore

with a network of representative offices around the globe. Follow

Gunvor on Twitter: @Gunvor.

Media Enquiries:

Qorvis Communications

Mr. Seth Thomas Pietras

Email: [e-mail]

Phone: [phone]

Mikhailov & Partners

Mr. Anton Kurevin

Email: [e-mail]

Phone: [phone]