Swiss commodities trader Gunvor has agreed a US$1.2bn revolving credit facility and will be launching the syndication for the facility on October 29, 2013, in Geneva.
The financing will consist of two tranches, a 364-day revolver and a three-year revolver, the size of which will be determined by market appetite.
The credit will be used to both grow and diversify Gunvor’s financing sources to support new investments and existing operations, it outlines.
Active bookrunners and mandated lead arrangers on the financing are ABN Amro, Crédit Agricole, Credit Suisse, ING, Natixis, Rabobank, RBS and Société Générale. Credit Suisse will act as facility agent.