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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
10/27/201413:24:17Banks Lead the Way as Europe Stocks Sag -- 6th Update
10/27/201411:52:21Banks Lead the Way as Europe Stocks Sag -- 5th Update
10/26/201408:51:36NL banken slagen ruim voor Europese stresstest - update
10/26/201408:15:26Nederlandse banken ruim geslaagd voor Europese stresstest
09/03/201408:43:10ING Sells Part of Voya Financial Stake for $1.2 Billion
08/13/201412:26:02European Banks Ink Loan to Russian Steelmaker
08/06/201417:51:35ADR Shares End Mixed; ING Group Shares Trade Actively
08/04/201410:50:11ING Groep 2Q 2014 -- Forecast
06/13/201411:07:37Poland's May CPI Falls Unexpectedly
06/05/201415:01:13ING Moves Ahead With NN Unit IPO -- Update
06/05/201402:42:07ING Moves Ahead With NN Unit IPO
05/16/201404:20:08ING Groep Completes EUR1.125 Billion Note Issue
05/07/201417:32:03ADR Shares End Mixed; Delhaize, ING Shares Active
05/07/201409:07:17ING Hit By Restructuring Costs -- Update
05/07/201403:24:59ING Hit By Restructuring Costs
05/06/201417:18:57ING Groep 1Q Results -- Forecast
04/29/201404:03:13Dutch Central Bank Sets Out Capital Buffers
04/22/201402:58:35ING Bank Names Roel Louwhoff as Chief Operating Officer
04/02/201412:49:22European Stocks Notch Seventh Straight Day of Gains--Update
04/01/201403:41:57Singapore OCBC Makes Near US$5 Billion Offer For Wing Hang Bank...

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