RLPC-Gunvor closes $530 mln loan syndication

LONDON Tue Dec 11, 2012 8:15am EST

Related Topics

LONDON Dec 11 (Reuters) - Swiss oil and energy trader Gunvor has closed syndication of a $530 million loan to back the storage of crude oil in Panama and downstream sales to refiners in North and South America.

The facility was arranged by Credit Agricole CIB and Natixis and was fully subscribed by six core relationship banks, Gunvor said on Tuesday.

Gunvor is also looking to sign the refinancing of its core European syndicated revolving credit facility, which was launched at $800 million in October.

That financing may be increased after being oversubscribed, banking sources said.

In October, the company closed a $625 million facility to finance the purchase of crude oil and feedstock at a refinery in Antwerp it acquired from Petroplus. (Reporting by Alasdair Reilly; Editing by Dan Lalor)

FILED UNDER: