NASDAQ OMX

Gunvor Secures US $1.39 Billion Revolving Credit Facility

Dela

Gunvor Group Ltd / Gunvor Secures US $1.39 Billion Revolving Credit Facility . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.

Strong bank support for Group strategy results in substantial over-subscription

GENEVA, Nov. 16, 2017 (GLOBE NEWSWIRE) -- Gunvor Group Ltd ("Gunvor" or the "Group") has signed a US $1.39 billion Revolving Credit Facility ("RCF") in favour of Gunvor International B.V. and Gunvor SA (the "Borrowers"). The RCF, launched at US $1 billion, was substantially over-subscribed, drawing in US $1.81 billion, a record high for the facility. The RCF was scaled back to accommodate the needs of the Group, which will use the funds to finance general corporate purposes and working capital requirements.

"Gunvor continues to receive considerable support from both its existing banking partners as well as from new ones," said Jacques Erni, CFO, Gunvor Group. "Thanks to our continuous efforts to tighten cash management and improve financial structuring, we have become more efficient financially, with reduced working capital needs. At the same time, Gunvor continues to implement our strategy of geographic expansion and product diversification, generating positive returns in a challenging and evolving environment."

The RCF will replace the maturing Tranche A (US $1.415 billion) of the Borrowers' US $1.67 billion RCF dated 17 November 2016 and Tranche B (US $210 million) of the US $1.36 billion RCF dated 23 November 2015. The first RCF for Gunvor in Europe was launched in 2008 and is complemented by the Group's Asian Revolving Credit Facilities, Borrowing Base facilities, and OBSI Facility.

ABN AMRO Bank N.V., Credit Agricole Corporate and Investment Bank, Credit Suisse (Switzerland) Ltd, DBS Bank Ltd., ING Bank N.V., Natixis, Rabobank, Société Générale Corporate & Investment Banking, UBS Switzerland AG and UniCredit Bank AG (together the "Bookrunning Mandated Lead Arrangers") were mandated to arrange the Facility. ABN AMRO Bank N.V., Credit Agricole Corporate and Investment Bank, ING Bank N.V., Natixis and Rabobank acted as Active Bookrunners while Credit Suisse (Switzerland) Ltd is Facility and Swingline Agent.

Deutsche Bank AG, Amsterdam Branch, Mizuho Bank, Ltd, and Emirates NBD PJSC, London branch joined as Senior Mandated Lead Arrangers, with APICORP, Citigroup Global markets Limited, DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frank am Main, KfW-IPEX, Nedbank and Sumitomo Mitsui Trust Bank as Mandated Lead Arrangers.

The Bank of Tokyo-Mitsubishi UFJ, Limited, Commerzbank, Raiffeisen Bank International AG, and Sumitomo Mitsui Banking Corporation joined as Lead Arrangers, with Mashreqbank, Arab Bank (Switzerland) Ltd, Banco do Brasil, Bank ABC, Banque de Commerce et de Placements, Goldman Sachs, Gulf International Bank, Habib Bank AG Zurich, HSH Nordbank and UBAF as Arrangers, with Participants China Construction Bank, Beijing, Swiss Branch Zurich, Commercial Bank of Dubai, Garanti Bank International, Banque Cantonale de Genève, Attijariwafa Bank and Erste Bank AG.

The Facility consists of two tranches, available to Gunvor International B.V. and Gunvor SA:

  • Tranche A: US $1.14 billion 364-day revolving credit facility with two 364-day extension options, and;
  • Tranche B: US $250 million 3-year revolving credit facility with one 364-day extension option

About Gunvor Group
Gunvor Group is one of the world's largest independent commodities trading houses by turnover, creating logistics solutions that safely and efficiently move physical energy and bulk materials from where they are sourced and stored to where they are demanded most. With strategic investments in industrial infrastructure-refineries, pipelines, storage, terminals, mining and upstream-Gunvor further generates sustainable value across the global supply chain for its customers.

More information can be found at GunvorGroup.com or @Gunvor.

Contact
Mr. Seth Thomas Pietras
stp@gunvorgroup.com
+41 79 870 62




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Gunvor Group Ltd via Globenewswire

Om

NASDAQ OMX
NASDAQ OMX



Följ NASDAQ OMX

Abonnera på våra pressmeddelanden.

Senaste pressmeddelandena från NASDAQ OMX

Oxford Immunotec Schedules Second Quarter 2018 Earnings Release and Conference Call for July 31, 201817.7.2018 14:30Pressmeddelande

OXFORD, United Kingdom and MARLBOROUGH, Mass., July 17, 2018 (GLOBE NEWSWIRE) -- Oxford Immunotec Global PLC (Nasdaq:OXFD), a global, high-growth diagnostics company, today announced that it plans to release second quarter 2018 financial results prior to market open on Tuesday, July 31, 2018. Dr. Peter Wrighton-Smith, Chief Executive Officer, and Rick Altieri, Chief Financial Officer, will host a conference call to review the Company's results at 8:00 a.m. Eastern Time the same day. The call will be concurrently webcast. To listen to the conference call on your telephone, please dial (855) 363-5047 for United States callers or +1 (484) 365-2897 for international callers and reference confirmation code 9268558, approximately ten minutes prior to start time. To access the live audio webcast or subsequent archived recording, visit the Investor Relations section of Oxford Immunotec's website at www.oxfordimmunotec.com. The replay will be available on the Company's website for approximately

SolarWinds Deepens Infrastructure Visibility with Log Manager for Orion17.7.2018 12:30Pressmeddelande

New log management solution delivers integrated, comprehensive event log management, collection, and consolidation to boost time-to-resolution AUSTIN, Texas, July 17, 2018 (GLOBE NEWSWIRE) -- SolarWinds, a leading provider of powerful and affordable IT management software, today announced SolarWinds®Log Manager for Orion®, a new, powerful log management tool for on-premises IT environments. Fully integrated with the SolarWinds Orion Platform, Log Manager is designed to provide the essential components an IT operations team needs for improved log monitoring, troubleshooting, and performance management. While IT infrastructure generates vast amounts of log data each day-from syslogs to SNMP traps and Windows® events-the responsibility of evaluating the information to determine which is most valuable falls on the shoulders of technology professionals. Log Manager, the latest addition to the larger SolarWinds network and systems management portfolio, is designed to provide integrated log m

SD-WAN Market Leader Aryaka Further Expands within Canada to Help Global Enterprises to Accelerate Digital Transformation Strategies17.7.2018 11:19Pressmeddelande

SAN MATEO, Calif., July 17, 2018 (GLOBE NEWSWIRE) -- Aryaka®, the leading global SD-WAN provider, announced today it has further expanded its worldwide network with the addition of a new Point of Presence (POP) in Toronto, Canada. This investment was spurred by a rapidly growing presence of global enterprises with sites in Canada who, as part of their digital transformation initiatives, are looking for better application performance, multi-cloud connectivity, and security from their network. With the deployment of its POP in Canada, Aryaka extends its SD-WAN as-a-Service into this region and can now offer it directly to Canadian enterprises. As over 70% of Aryaka's business comes through channel partners, this expansion will further enable their success in meeting the connectivity, application performance, and digital transformation needs of their global enterprise customers. "We are thrilled to further expand our network and market footprint in Canada and improve the performance of Ar

Notice of Arbitration Filed Against State of Kuwait16.7.2018 21:46Pressmeddelande

Attorneys for international business executive file notice of arbitration claiming violation ofinternational law by Kuwaiti courts London, United Kingdom, July 16, 2018 (GLOBE NEWSWIRE) -- Crowell & Moring LLP, counsel for Marsha Lazareva, a prominent member of the international business community, has filed a notice of international arbitration with the State of Kuwait for breaching a bilateral investment treaty in violation of international law. The notice follows a series of erroneous charges against Lazareva by the Kuwait Prosecutor General that have resulted in her prolonged imprisonment. The notice states that the charges against Ms. Lazareva, a Russian citizen, are part of a coordinated campaign to damage her reputation as a successful businesswoman and diminish the value of her investments. It also cites Kuwait for violating a longstanding bilateral investment treaty with Russia: the Agreement between the Russian Federation and the State of Kuwait on the Encouragement and Mutua

Two London ex-Bankers launch first UK regulated Digital Asset Trading Platform and Crypto exchange accessible to Institutional Investors16.7.2018 17:37Pressmeddelande

LONDON, July 16, 2018 (GLOBE NEWSWIRE) -- UK's first native crypto exchange platform is on its way to become a reality. Sovren Exchange, a venture founded by a team of London-based banking executives, has announced an Initial Coin Offering (ICO) to begin Q3 of this year. For their launch, Sovren (SVRN) is raising a maximum of 10 Million USD (combination of Equity Funding and its own Sovren Token) to create a hybrid order book and brokerage exchange platform that uses a trading engine supported by Artificial Intelligence (AI) and Robotic Process Automation (RPA). Sovren will have a fully compliant platform that will support trading in derivates, equities, commodities and securities. The platform will use intelligent automation to address liquidity challenges and a 3rd party custodial service for additional protection with a European Bank. Sovren is supporting trading between all major crypto assets and fiat currencies like pounds, euros, and dollars, aiming for same day service and low,

TANTALEX Announces Entering into An Agreement with Respect to the Acquisition of an Exploitation Permit for the Historical Manono-Kitotolo Mine Tailings16.7.2018 16:48Pressmeddelande

TORONTO and MUNICH, Germany, July 16, 2018 (GLOBE NEWSWIRE) -- TANTALEX Resources Corporation (CSE:TTX) (FSE:1T0) ("TANTALEX" or the "Corporation"), is pleased to announce that its 90% owned subsidiary Buckell SAS ("Buckell") has entered into an assignment agreement (the "Agreement") to acquire Mines d'Or Resources ("Minor") 65% participation in a joint venture entity to which will be transferred the PER 13698 (Permis Exploitation Rejets) ("PER 13698"). PER 13698 grants exclusive rights to mine the tailings of the historical Manono-Kitotolo mine for lithium, tin and tantalum. The new entity will be named Société des Tailings de Manono ("STM") and will be owned 65% by Buckell, 30% by La Congolaise D'Exploitation Minière ("La Cominière") and 5% by Minor. The closing of the contemplated transaction by Buckell is subject to various conditions and payments, namely, but not limited to, the successful transfer and registration of the PER 13698 in the name of the newly created entity STM with

I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.

Besök vårt pressrum