Gunvor Group, one of the world's largest independent commodities trading houses, recently announced the closing of a $675 million long term secured facility to finance the company's flagship Ust Luga Oil Products Terminal investment in Russia.
"We are very pleased with the outcome of the facility, which is non-recourse to Gunvor, as it attracted considerable commitments from international and Russian banks amount to more than $1.3 billion," Chief Financial Officer Jacques Emi said.
Russia's Gazprombank and VTB, Credit Suisse International, ABN Amro, Raiffeisen Bank International and Bank of China all acted as mandated lead arrangers for the deal.
"This facility represents an important step for Gunvor; it not only confirms the trust and strong support from the banking community in our project, but it also allows the terminal to be optimally leveraged, freeing up capital for other investment opportunities," Corporate Finance Director Gia Mai said.
The terminal is considered the largest rail/ocean transshipment terminal in the world, with a projected capacity of more than 30 million metric tons per year.
- NATIONAL BANK OF UKRAINE: Speech by NBU Governor Yakiv Smolii at a press briefing on monetary policy
- NATIONAL BANK OF TAJIKISTAN: National Bank of Tajikistan and International Monetary Fund have considered cooperation issues
- PROMSVYZABANK - RUSSIA: Promsvyazbank awarded the winners of the national prize "Business Success"
- RAIFFESISENBANK - RUSSIA: Amendment of the “General Terms and Conditions of Servicing Accounts, Deposits and Consumer Loans”
- NATIONAL BANK OF UKRAINE: NBU Launches Economic Express Regional Project in Zhytomyr
- EUROPEAN INVESTMENT BANK: EUR 1.9 billion EIB Group backing for private sector, energy and urban investment across Greece
- HSBC - GEORGIA: Technology targets financial crime
- EUROPEAN INVESTMENT BANK: More European funds available to support energy efficiency in residential buildings
- ASIAN DEVELOPMENT BANK: Green and Blue Finance Will Help Bridge Infrastructure Investment Gap in Southeast Asia
- INTERNATIONAL MONETARY FUND: World Bank and IMF Officials Visit Morocco to Prepare 2021 Annual Meetings in Marrakech