Gunvor

Gunvor Group Biodiesel Borrowing Base

Borrower (s)
Gunvor
Industry
Renewables
Area of finance
Commodity Trade Finance
Region
Europe
Countries
Spain

Deal Overview

Gunvor Group has successfully closed a new US $540 million borrowing base facility to support the Company’s biodiesel trading activity. The Facility drew strong support among Gunvor’s banking partners, which align with its strategy to promote cleaner products with greener feedstock...

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Gunvor Group has successfully closed a new US $540 million borrowing base facility to support the Company’s biodiesel trading activity. The Facility drew strong support among Gunvor’s banking partners, which align with its strategy to promote cleaner products with greener feedstock components complying with EU climate targets to reduce greenhouse gas emissions. The syndication launched at US $400 million and was oversubscribed to US $595 million.

The Facility is structured around Gunvor’s biofuel inventory positions located at both the origin and destinations countries, including the Company’s two biofuel processing plants in Spain. Imports are made in strict conformity with the EU regulation applicable on biofuel products. The Facility’s pricing is competitive and reinforces the Group’s funding resources with its growing biofuel activity.

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Deal Volume
$540m
Financial Close
04 December 2020

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