Gunvor attracts strong support for oversubscribed RCF

Gunvor Group has signed an oversubscribed revolving credit facility (RCF) worth US$1.69bn to replace maturing debt tranches. The funds will be used by Gunvor International and Gunvor SA to finance general corporate purposes and working capital requirements. Initially launched at US$1bn, the facility will amend and extend the A and B tranches of Gunvor’s European revolving credit facility, consisting of the US$1.68bn facility it signed in November 2018 and tranche B of the US$250mn facility it signed in November 2017. Bookrunning mandated lead arrangers were ABN Amro, Rabobank, Crédit Agricole Corporate & Investment Bank, Credit Suisse, DBS, ING, Natixis, Société Générale, UBS and UniCredit.