Gunvor’s US business follows European arm into loan market

Adobestock_Energy_Trading_575x375_Nov2020
By Mike Turner
24 Nov 2020

Gunvor, the Swiss energy trader, has signed a $1.1bn credit facility through its US arm a week after completing a similarly sized deal for its European operations, with five new lenders joining the annual US refinancing.

Gunvor’s new US facility has a one year maturity and is structured as a borrowing base facility, a type of working capital trade finance facility where the amount of credit available is based on the borrower's current assets.

Rabobank was administrative agent and active bookrunner. The Dutch bank was ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial