Gunvor goes well with lenders, signs $850m

06 Jun 2013

Gunvor Singapore signed its $850m loan on June 6, after finding enough demand to increase the deal from the original $650m. A total of 24 banks joined during syndication, committing more than $1bn, a 60% oversubscription.

The deal was split into a $715m one year loan, with a margin of 185bp over dollar Libor, and a $135m three year tranche, priced at 260bp, said bankers.

Lenders that joined the three year tranche got 130bp for fees. For the one year portion, MLAs committing $50m ...

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