LPC: Gunvor Singapore closes increased $1.04 billion loan

By Alasdair Reilly

LONDON (Reuters) - Gunvor Group has closed $1.041 billion of syndicated revolving credit facilities to support new activities and existing operations in Asia Pacific, the company said on Thursday.

The financing, which is for wholly-owned subsidiary Gunvor Singapore Pte Ltd, is split between a $955 million, one-year tranche and an $86 million, three-year tranche.

The loan was launched at $750 million but closed almost 40% oversubscribed and was subsequently increased.

DBS Bank, First Gulf Bank, ING Bank, Oversea-Chinese Banking Corp and Rabobank were active bookrunners and mandated lead arrangers on the financing, while Maybank and Natixis were bookrunning mandated lead arrangers.

ABN AMRO Bank, Credit Agricole, CTBC Bank, Emirates NBD, Societe Generale, SMBC and United Overseas Bank joined the loan as senior mandated lead arrangers, while APICORP, ICICI Bank and UBS joined as mandated lead arrangers.

(Editing by Christopher Mangham)

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