UK: Ince & Co Advises Gunvor Singapore On US$850 Million Revolving Credit Facility
Last Updated: 20 June 2013

In Singapore, international law firm Ince & Co has advised Gunvor Singapore Pte Ltd, a wholly-owned subsidiary of Geneva-based energy trader Gunvor Group, on its US$850 million syndicated revolving credit facility (RCF) from a syndicate of 24 international financial institutions. The RCF, which closed 6 June 2013, includes a US$135 million three-year tranche and a US$715 million one-year tranche.

The RCF was launched at US$650 million and attracted over US$1 billion in commitments, closing almost 60% oversubscribed. It will be used to refinance another facility obtained in June last year as well as for general corporate and working capital requirements.

Ince & Co consultant Kunal Kapoor led the team that advised on the transaction which involved English, Singapore and Cypriot law.

Ince & Co partner Martin Brown, who heads the firm's finance group in Singapore, comments:"We are delighted to act for Gunvor Singapore on such an important transaction, and in supporting Gunvor's growth strategy in the Asia-Pacific region."

The Ince & Co finance team has a strong reputation advising on numerous transactions in the international trade, energy and oil & gas sectors, particularly on structured finance transactions and general asset-related instructions.

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