Gunvor secures $500M facility to support Houston-based trading office

Gunvor USA LLC has secured a US$500 million borrowing base credit facility to support the company’s newly established operations in the US. Gunvor USA LLC has opened an office in Houston, Texas that initially will be trading refined products, natural gas, and asphalt/bitumen.

The new facility is jointly lead-arranged by Coöperatieve Rabobank U.A., New York Branch, which will also serve as administrative agent, and ABN Amro Capital USA LLC. The other lenders are ING Capital, LLC, Natixis, New York Branch, Société Générale and Credit Agricole Corporate and Investment Bank. As part of its establishment in the US, Gunvor USA has initiated a relationship with Bank of Texas, Houston Branch, part of the larger BOKF, NA bank network. Bank of Texas has been appointed as Gunvor USA’s primary cash management bank.

Gunvor USA LLC is a wholly-owned indirect subsidiary of Gunvor Group Ltd., one of the largest independent energy commodity traders in the world. In 2015, the Group generated US $64 billion in revenue and moved 180 million MT of physical energy and commodities.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...