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.
(Bloomberg)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
