Gunvor Group launches new $540M biodiesel loan
December 6, 2020
| Helena Tavares Kennedy
In the United Kingdom, Reuters reports that energy trader Gunvor Group closed a new $540 million borrowing base facility to support biodiesel trading as it focuses more on promoting cleaner products in line with EU climate goals.
The bookrunners for the deal were Credit Agricole and Rabobank. The loan is structured around the company’s biofuel inventories, including two biofuel processing plants in Spain.
The Geneva-based firm has been trading biofuels since 2009. About half of Gunvor’s traded volumes are considered “transitional” commodities, including biofuels, natural gas and liquefied natural gas.
Category: Fuels
