Gunvor Secures US $500 Million Facility To Support New Activities In United States

Gunvor USA LLC is pleased to announce the successful syndication of a US $500 million Borrowing Base Credit Facility, which will support the company's newly established operations in the United States. Gunvor USA LLC has opened an office in Houston, Texas that initially will be trading refined products, natural gas, and asphalt/bitumen.

The new facility is jointly lead-arranged by Cooperatieve Rabobank U.A., New York Branch, which will also serve as administrative agent, and ABN Amro Capital USA LLC. The other lenders are ING Capital, LLC, Natixis, New York Branch, Societe Generale and Credit Agricole Corporate and Investment Bank. As part of its establishment in the US, Gunvor USA has initiated a relationship with Bank of Texas, Houston Branch, part of the larger BOKF, NA bank network. Bank of Texas has been appointed as Gunvor USA's primary cash management bank.

Gunvor USA LLC is a wholly-owned indirect subsidiary of Gunvor Group Ltd., one of the largest independent energy commodity traders in the world.