Energy trader Gunvor launches new $540 mln biodiesel loan – Successful Farming

LONDON, Dec 4 (Reuters) – Gunvor Group has closed a new $540
million borrowing base facility to support biodiesel trading as
the company shifts its strategy to promote cleaner products in
line with EU climate targets, the company said on Friday.

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.
(Reporting by Julia Payne; Editing by Susan Fenton)

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