Gunvor launches as Glencore hits $10bn mark

05 May 2010

Swiss oil trader Gunvor became the latest European commodities trader to target the Asian loan market on Thursday night, launching a $750m revolver which is to be marketed in Asia and Europe.

The deal comes as commodities trader Glencore looks set to increase its $7bn refinancing, which is also marketed in Asia and Europe, after getting over $10bn in commitments from more than 90 banks. That deal is set to be signed next week.

Gunvor’s deal, which is to refinance ...

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