Support The Moscow Times!

Gunvor Seeks $470M Credit

Gunvor International, the closely held energy trader, hired banks to help arrange a $470 million revolving credit facility, according to two people familiar with the matter.

The 364-day loan is being syndicated to lenders in Asia and pays a so-called all-in rate, which includes margin and fees, of 290 basis points more than the London interbank offered rate to banks pledging $35 million or above, the people said, asking not to be identified because the details are private.

Australia & New Zealand Banking Group, China Development Bank, DBS Group Holdings, First Gulf Bank, ING Group, National Australia Bank, Societe Generale and Sumitomo Mitsui Banking are arranging the facility, the people said.


Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

As we approach the holiday season, please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world’s largest country.