Gunvor USA LLC, an indirect, wholly-owned subsidiary of Gunvor Group Ltd, has successfully closed the syndication of its US $1.60 billion uncommitted borrowing base credit facility. The facility includes a US $1.28 billion one-year tranche, a US $320 million two-year tranche, and a US $500 million accordion feature, which remains available to support future growth.
The proceeds of the Facility will refinance Gunvor USA’s existing $1.45 billion borrowing base facility signed in October 2022, provide continued working capital financing for the Company’s merchant activities, and fund general corporate purposes.
Gunvor USA LLC is a wholly-owned indirect subsidiary of Gunvor Group Ltd, one of the world’s largest independent commodities trading houses by turnover. Gunvor Group creates logistics solutions that safely and efficiently move physical energy and bulk materials from where they are sourced to where they are demanded most. In 2022, Gunvor Group generated US $150 billion in revenue on 165 million MT of turnover. The Group’s main trading offices are in Geneva, Singapore, Houston, Stamford, Calgary, Dubai, and London, with a network of more than 20 representative and other trading offices around the globe.