CORRECTED-Gunvor raising $500 mln credit for Belgian refinery
(Changes headline and para 1 to show Gunvor is raising, not securing, credit)
GENEVA, July 11 (Reuters) - Oil trader Gunvor said on Wednesday it had started to raise a $500 million credit facility to support the operations of its Belgian refinery purchased from insolvent refiner Petroplus.
The revolving credit facility, led by ING and Rabobank, will be used to finance crude oil and feedstock purchases for the 105,000 barrel per day plant.
Gunvor, a top five oil trading house, has bought two Petroplus plants in Belgium and Germany in a bid to become an integrated oil company.
The group said in June it had signed a $635 million loan agreement with mostly Asian banks despite the difficulties faced by smaller players in gaining access to credit. (Reporting by Emma Farge; Editing by Alison Birrane)
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