By Alasdair Reilly
LONDON (Reuters) - Gunvor Group has closed US$1.041 billion (0.70 billion pounds) of syndicated revolving credit facilities to support new activities and existing operations in Asia Pacific, the company said on Thursday.
The financing, which is for wholly-owned subsidiary Gunvor Singapore Pte Ltd, is split between a US$955m, one-year tranche and an US$86m, three-year tranche.
The loan was launched at US$750m but closed almost 40% oversubscribed and was subsequently increased.
DBS Bank, First Gulf Bank, ING Bank, Oversea-Chinese Banking Corp and Rabobank were active bookrunners and mandated lead arrangers on the financing, while Maybank and Natixis were bookrunning mandated lead arrangers.
ABN AMRO (AS:ABNd) Bank, Credit Agricole (PA:CAGR), CTBC Bank, Emirates NBD, Societe Generale (PA:SOGN), SMBC and United Overseas Bank joined the loan as senior mandated lead arrangers, while APICORP, ICICI Bank and UBS joined as mandated lead arrangers.