Gunvor goes higher to $536.6m after healthy demand

hydrocarbon refinery
By Rashmi Kumar
12 Jun 2014

Commodities trader Gunvor Singapore, a wholly-owned subsidiary of Gunvor Group, has closed its syndicated facility at a much larger than targeted size of $536.6m, after it was oversubscribed in general syndication.

The company has had an uphill battle with its fundraising. In March there were market rumours that it was considering a loan of $650m-$700m, but when the deal finally hit the market in the end of April, it started at a size of $350m.

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