China CITIC Bank contributes to $1.135 billion USD syndicated revolving credit facility to Gunvor Singapore to support new activities and existing operations

Project narrative

On June 30, 2017, a syndicate of 39 banks — including the Singapore Branch of China CITIC Bank International Limited — signed a $1.135 billion USD syndicated revolving credit facility (RCF) with Gunvor Singapore Pte. Ltd. — a wholly-owned subsidiary of Gunvor Group Limited, a Cyprus-incorporated, Switzerland-headquartered energy trading and commodities firm — to support Gunvor’s new activities and existing operations in the Asia Pacific region. The RCF included an unknown accordion option. DBS Bank Ltd., ING Bank N.V., Singapore Branch, Malayan Banking Berhad, Singapore Branch, National Bank of Abu Dhabi P.J.S.C., Singapore Branch, Natixis, Singapore Branch, Oversea-Chinese Banking Corporation Limited (OCBC) and Coöperatieve Rabobank U.A. Singapore Branch (each a “Bookrunning Mandated Lead Arranger” or “BMLA”) were mandated to jointly arrange the Facilities. DBS, ING, NBAD, Natixis, and OCBC acted as Active Bookrunners. ABN AMRO Bank N.V., Singapore Branch (ABN), Arab Petroleum Investments Corporation (APICORP) – Foreign Branch , Crédit Agricole Corporate & Investment Bank (CACIB), CTBC Bank Co., Ltd., Emirates NBD PJSC, Singapore Branch (“Emirates”), Société Générale, Singapore Branch, Sumitomo Mitsui Banking Corporation, Singapore Branch (SMBC) and United Overseas Bank Limited (UOB) subsequently joined the deal as Senior Mandated Lead Arrangers. Mizuho Bank, Ltd. UBS AG, Singapore Branch (UBS) and UniCredit Bank AG joined the deal as Mandated Lead Arrangers. China CITIC Bank International Limited Singapore Branch, Sumitomo Mitsui Trust Bank, Limited, Singapore Branch, Bank of Taiwan, Singapore Branch, FirstRand Bank Limited (acting through its Rand Merchant Bank Division), Hua Nan Commercial Bank, Ltd., Offshore Banking Branch, Mega International Commercial Bank Co., Ltd., Singapore Branch, PT Bank Mandiri (Persero) Tbk, Singapore Branch, Commercial Bank of Dubai PSC, Commerzbank Aktiengesellschaft, Singapore Branch, E.SUN Commercial Bank, Ltd., Singapore Branch, First Commercial Bank Ltd, Singapore Branch, Taishin International Bank Co., Ltd Singapore Branch, Taiwan Cooperative Bank, Offshore Banking Branch and The Korea Development Bank, Singapore Branch joined as Lead Arrangers. The Facilities were also joined by the following Arrangers – National Bank of Fujairah PJSC, Macquarie Bank Limited Singapore Branch, NEC Capital Solutions Singapore Pte. Limited, P.T. Bank Negara Indonesia (Persero) Tbk Singapore Branch and Union de Banques Arabes et Francaises.