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Gunvor Launches $500 Million Credit Facility for Belgian Refinery

By Jenny Gross LONDON--Gunvor Group Ltd. has launched a $500 million credit facility to help finance its new refinery in Belgium, the group said in a statement Wednesday. Cyprus-based Gunvor, one of the world's largest independent traders of commodities, said in March it had agreed to buy the Antwerp refinery from insolvent Swiss-based refiner Petroplus Holdings AG. "One of the pillars of Gunvor's growth strategy is the investment in energy infrastructure complementary to our trading function," said Gunvor Chief Executive Torbjorn Tornqvist, according to the statement. "The strong interest already shown by large international banks for joining the facility demonstrates confidence in Gunvor's approach." ING and Rabobank are the two bookrunning mandated lead arrangers of the facility, which will be used to finance the purchase of crude oil and feedstock for the refinery. Write to Jenny Gross at jenny.gross@dowjones.com; Twitter: @jgginlondon

Stock News for Ing (ING)
DateTimeHeadline
07/17/201509:35:24(25-NSE)
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06/16/201508:11:22Report of Foreign Issuer (6-k)
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06/11/201516:16:00Tangerine employees and community volunteers transform Moncton's...
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05/28/201506:08:59Report of Foreign Issuer (6-k)
05/26/201512:39:22ING to Sell Further Stake in NN Group
05/21/201506:06:26Report of Foreign Issuer (6-k)
05/14/201515:15:38Form 13f Holdings Report (13f-hr)
05/13/201506:08:46Report of Foreign Issuer (6-k)
05/12/201517:13:36Advent International to Buy Ammeraal Beltech
05/12/201506:08:52Report of Foreign Issuer (6-k)
05/11/201511:40:06ING Records Sharp Rise in Profit
05/08/201506:09:03Report of Foreign Issuer (6-k)

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