Gunvor signs $1bn loan in oil company’s first Asian foray

Swiss oil trader Gunvor has signed a $1.03bn facility, increasing the transaction from $750m after it was heavily oversubscribed. The 364 day revolver is split into a $785m tranche aimed at European lenders through Gunvor International and a $245m line for Asian investors available to Gunvor Singapore and guaranteed by Gunvor International. The deal marks Gunvor’s first foray into the Asian market.

  • 25 Jun 2010
"For their first entry in the Singapore market, $245m is a good level and they will hope to build it up," said a banker involved in the deal. "Along with all the Asian marketers in the lending group, most of the mandated lead arrangers and bookrunners also did ...

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