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Commodity trading giant Gunvor has secured a US$1.1bn syndicated borrowing base facility supporting its global LNG operations, in a deal described by the company as a first of its kind for the market. The facility is structured to support the working capital needs of the Geneva-headquartered company’s LNG activities globally, as well as supporting its ...
Traxys, a Luxembourg-based metals and natural resources trader, has refinanced and extended its revolving credit facility (RCF) in an oversubscribed deal that saw the entry of new banks into the syndication. The deal, a US$1.33bn multicurrency syndicated RCF, was signed last week, and replaces a US$1.29bn RCF that closed last year. The facility is structured in four tranches: a one-year committed borrowing base tranche, a three-year committed borrowing base tranche, a one-year uncommitted borrowing base tranche, and a one-year committed unsecured tranche. Each tranche includes a one-year exte...