Gunvor has secured a US$500mn syndicated borrowing base credit facility to support its newly-established US operations.
The mandated lead arrangers on the loan are Rabobank (also administrative agent) and ABN Amro Capital. Other lenders include ING Capital, Natixis, Société Générale and Crédit Agricole CIB.
Gunvor recently opened a branch in Houston, Texas, to trade refined products, natural gas and asphalt. As part of its establishment there, it has appointed Bank of Texas as its primary cash management bank in the US. Bank of Texas is part of the larger BOK Financial Corporation, a Southwestern US bank.
In 2015, Gunvor generated US$64bn in revenue and moved 180 million metric tonnes of physical energy and commodities.