Nasdaq GlobeNewswire

Gunvor USA Secures USD 875 Million Borrowing Base Facility

Del

Gunvor Group Ltd / Gunvor USA Secures USD 875 Million Borrowing Base Facility . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.

HOUSTON, Nov. 07, 2017 (GLOBE NEWSWIRE) -- Gunvor USA LLC, a subsidiary of Gunvor Group, has successfully closed the syndication of its USD 875 million Borrowing Base Credit Facility. The facility will support the company's established operations in the United States, as well as planned expansion into Canada. Gunvor USA LLC has two main offices, located in Houston (TX) and Stamford (CT), which are focused on trading refined products, crude oil and natural gas.

"Our expanded facility enables Gunvor USA to build on our trading activities across the commodities space in North America," said Chris Morran, Treasurer of Gunvor USA. "The oversubscription of the transaction and 75% increase in the facility amount demonstrate the level of confidence our banking partners have with our North American strategy."

The new facility is jointly lead arranged by Rabobank, which will also serve as Administrative Agent and Active Bookrunner, and ABN Amro Capital USA LLC as Joint Bookrunner. ING Capital, LLC, Natixis, New York Branch, and Société Générale join as Joint Lead Arranger in the transaction. The syndicate also includes Credit Agricole Corporate and Investment Bank, Deutsche Bank AG, New York Branch, Mizuho Ltd. and Sumitomo Mitsui Banking Corporation.

"Gunvor USA has grown rapidly since its launch in 2016, and has significantly expanded its bank group as part of the refinancing," said David Garza, President of Gunvor USA and Managing Director for its North American operations. "In the last year, Gunvor USA has hired more than 60 people for its North American operations, and opened trading offices in Houston and Stamford, and now a rep office in Calgary. We've been able to grow at an accelerated pace with the support of our banking partners."

Gunvor USA LLC is a wholly-owned indirect subsidiary of Gunvor Group Ltd., one of the largest independent energy commodity traders in the world.

About Gunvor Group
Gunvor Group is one of the world's largest independent commodities trading houses by turnover, creating logistics solutions that safely and efficiently move physical energy and bulk materials from where they are sourced and stored to where they are demanded most. With strategic investments in industrial infrastructure-refineries, pipelines, storage, terminals, mining and upstream-Gunvor further generates sustainable value across the global supply chain for its customers. More information can be found at GunvorGroup.com or @Gunvor.

  

Contact:
Seth Pietras
Phone Number: +41798706290
Email: seth.pietras@gunvortrade.ch




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Gunvor Group Ltd via Globenewswire

Om Nasdaq GlobeNewswire

Nasdaq GlobeNewswire
Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

+1 212 401 8700http://www.nasdaqomx.com

NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.

Følg saker fra Nasdaq GlobeNewswire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Nasdaq GlobeNewswire

Valero to Purchase SemLogistics Milford Haven Fuel Storage Facility23.2.2018 22:15Pressemelding

LONDON, Feb. 23, 2018 (GLOBE NEWSWIRE) -- Valero Logistics UK Ltd, a subsidiary of Valero Energy Corporation (NYSE:VLO), and SemGroup Europe Holding L.L.C., a SemGroup Corporation company, have today signed an agreement for the purchase of SemLogistics Milford Haven fuel storage facility on the west coast of Wales. Situated across the Haven from Valero's refinery at Pembroke, the facility is one of the largest petroleum products storage facility in the United Kingdom (UK) with 8.5 million barrels of capacity for storing gasoline, gasoline blendstocks, naphtha, jet fuel, gas oil, diesel, and crude oil. Over 67 percent of the storage capacity is multiproduct or dual purpose, giving Valero the flexibility to meet customers' demands in the UK and throughout Northwest Europe. Additionally, Milford Haven will continue to operate as a third-party storage facility, offering storage options for third party customers across the European petroleum markets. "This facility complements our Pembroke

Vricon launches Telco Suite at Mobile World Congress23.2.2018 19:20Pressemelding

Visit us at MWC Booth 6L8 to learn about our 3D geodata solution McLean, Virginia, Feb. 23, 2018 (GLOBE NEWSWIRE) -- Vricon is pleased to announce that it is launching its Telco Suite at this year's Mobile World Congress (MWC) in Barcelona. MWC participants can see a demonstration of the Telco Suite in Vricon's booth, located at #6L8. The Vricon Telco Suite is designed to help telecommunications companies navigate the rapid changes happening throughout the industry. With an increasing number of connected devices, high-definition content, and new services, the demands on networks are accelerating and growing exponentially. The Vricon Telco Suite is a cost-effective, next-generation solution that helps companies design networks for optimal performance, whether it's to densify existing 4G LTE networks, prep for 5G to empower smart homes and the Internet of Things, or work a more complex HetNet. "Mobile World Congress 2018 is the best place to see first-hand new technologies, to include Vr

Inspiration Provides Update23.2.2018 17:12Pressemelding

TORONTO, Feb. 23, 2018 (GLOBE NEWSWIRE) -- Inspiration Mining Corporation (CSE:ISM) - Pursuant to its previous news release Feb 14, 2018 Inspiration Mining Corp. is pleased to announce that the ongoing due diligence and negotiations with Compassion Cannabis is ahead of schedule and on track. Both parties are looking forward to positive conclusion. For further information, please contact Randy Miller, Chief Executive Officer of the Corporation, at tel: 416-842-9000, www.inspirationmining.com The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed

Three Elemica Executives Named Supply Chain Pros to Know23.2.2018 15:22Pressemelding

Leading Clients on Their Digital Transformation Journey to Operational Excellence WAYNE, Pa., Feb. 23, 2018 (GLOBE NEWSWIRE) -- Elemica, the leading Digital Business Network for process manufacturing industries, announces that three company executives have been selected as 2018 Supply Chain Provider Pros to Know by Supply & Demand Chain Executive magazine. Armand Castro, Vice President, Application Engineering; Mark Walsh, Vice President, Global Customer Support; and Steve Troncelliti, Vice President, Global Professional Services and IT Security are this year's honored Pros to Know from Elemica. They were chosen for helping clients resolve their most significant supply chain challenges through innovative digital transformation solutions and a next-generation digital platform that lowers working capital costs, streamlines operations and drives efficiencies. "Supply chain executives want to increase their digital transformation efforts across their supply chains to gain intelligent visib

CP Kelco Appoints Jennifer Aspen Mason as Sr. Vice President, Global Innovation22.2.2018 20:00Pressemelding

ATLANTA, Feb. 22, 2018 (GLOBE NEWSWIRE) -- CP Kelco, a leading global producer of specialty hydrocolloid solutions, announced today that Jennifer Aspen Mason has joined its Executive Leadership Team as Senior Vice President, Global Innovation, reporting directly to CP Kelco President Didier Viala. A global executive with more than 20 years of industry experience, Mason has an extensive background leading science organizations with Fortune 100 companies. Most recently, she spent more than five years with Mars, Incorporated, where she served as Technology and Science Strategy Officer for all Mars segments. In her new role, Mason is responsible for leading CP Kelco's global research and development (R&D) function, including strategic innovation imperatives to drive the company's long-term growth, as well as oversight of technical teams focused on new product innovation, process R&D and research. "We are truly delighted to welcome Jennifer to our team, and will surely benefit from her glob

Leading the industry: Excel Dryer is the first hand dryer manufacturer to publish third-party, verified Environmental Product Declarations (EPDs)22.2.2018 16:00Pressemelding

High-speed, energy-efficient XLERATOR®, XLERATOReco® and ThinAir® Hand Dryers evaluated and proven to be sustainable EAST LONGMEADOW, Mass., Feb. 22, 2018 (GLOBE NEWSWIRE) -- Excel Dryer, Inc., today announced that three of their hand dryers, the original, patented, high-speed, energy-efficient XLERATOR® Hand Dryer, the XLERATOReco® Hand Dryer and the ThinAir® Hand Dryer, were evaluated, and their environmental claims, substantiated with the publication of the hand dryer industry's first Environmental Product Declarations (EPDs) by UL Environment, a business division of Underwriters' Laboratories. An Environmental Product Declaration is a standardized way of quantifying the environmental impact of a product by studying the raw materials and energy consumption during its production, use and disposal. For buyers and specifiers, the EPDs are a disclosure tool that helps purchasers better understand a product's sustainable qualities and environmental repercussions so they can make more inf

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom