Gunvor has signed a US$1.36bn revolving credit facility (RCF) to replace maturing debt tranches.
ABN Amro, Crédit Agricole, Credit Suisse, DBS, ING, Natixis, Rabobank, Société Générale, UBS and UniCredit were mandated to arrange the facility as bookrunning mandated lead arrangers (MLAs). ABN Amro, ING, Natixis, Rabobank and Société Générale acted as active bookrunners and Credit Suisse as facility and swingline agent.
The facility, which was oversubscribed from launch at US$1.1bn, will be used for general corporate purposes and working capital requirements. It consists of two tranches, one US$1.15bn 364-day RCF with a 364-day extension option, and a US$210mn three-year RCF.
“We’re pleased with the current conditions for the facility and in particular with the fact that both the amount raised and the number of banks participating have continued to increase,” says Jacques Erni, Gunvor’s CFO. “This has been a good year for Gunvor’s RCFs, both in Europe and Asia, showing that there continues to be liquidity in the market for companies with strong fundamentals.”
The other participating banks are as follows:
Lead arrangers:
Nedbank
Raiffeisen Bank International
Arrangers
Deutsche Bank
Mizuho
Bank ABC
Banque Cantonale de Genève
BHF-Bank Aktiengesellschaft
Commerzbank
Goldman Sachs
Habib Bank
KfW Ipex-Bank
Mashreqbank
Sumitomo Mitsui Trust Bank
Arab Bank
Emirates NBD
Union de Banques Arabes et Françaises (UBAF)
Banque de Commerce et de Placements
BMCE Bank International
Deutsche Zentral-Genossenschaftsbank
Attijariwafa Bank Europe
