Gunvor has announced the launch of a syndication of a US$900mn revolving credit facility (RCF) to finance the trader’s working capital requirements.

The new facility will replace the maturing tranche of Gunvor’s existing RCF dated December 6th 2013.

ABN Amro, Credt Suisse, DBS Bank, ING, Natixis, Rabobank, Société Générale and UBS will be the bookrunning mandated lead arrangers of the facility, with ABN Amro, ING, Natixis, Rabobank and Société Générale taking the role of active bookrunners. Credit Suisse will act as swingline agent.

In a statement, Gunvor confirms the facility will have two tranches: tranche A will be a 1-year RCF, tranche B a 3-year RCF.

The commodity trader’s first European RCF was launched in 2008. Gunvor’s borrowing base facilities and its Asian RCF’s now complement its European financing instrument.