LONDON Dec 11 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)