Gunvor USA Successfully Closes USD 1.1 Billion Borrowing Base

Houston (ots/PRNewswire) - Gunvor USA LLC ("Gunvor USA" or "the Company"), a
subsidiary of Gunvor Group Ltd ("Gunvor" or "the Group"), has successfully
closed the syndication of its USD 1.1 billion borrowing base credit facility
("the Facility"). The Facility includes a USD 500 million accordion feature,
which remains available to support future growth.

The proceeds of the Facility will refinance Gunvor USA's existing borrowing base
facility signed in October 2019, provide continued working capital financing for
the Company's merchant activities, and fund general corporate purposes.

"Gunvor USA continues to enjoy strong and steady support from our banking
partners as we effectively navigate the challenging market environment," said
Chris Morran, CFO of Gunvor USA. "We are pleased to have attracted five new
lenders to our facility, along with a substantial amount of oversubscription,
which reflects the confidence in our business and strategy as Gunvor expands
further into the North American market."

The Facility is jointly lead arranged by Rabobank, which will also serve as
Administrative Agent and Active Bookrunner, and ING Capital LLC, Natixis, New
York Branch, and Société Générale as Joint Bookrunners and Joint Lead Arrangers
in the transaction. The syndicate is further supported by a diverse group of 12
additional lenders, five of which are new to the Facility.

"Through the first nine months of 2020, the North American business has been a
significant contributor to the Group," said David Garza, Managing Director
Gunvor USA. "The strong expansion of our banking partners emphasizes the
company's commitment to the Americas business."

Zukerman Gore Brandeis & Grossman, LLP served as counsel to the lenders.
McGuireWoods LLP served as counsel to the borrower.

About Gunvor USA LLC

Gunvor USA LLC is a wholly-owned indirect subsidiary of Gunvor Group Ltd, one of
the world's largest independent energy commodity traders in the world. Gunvor
USA is a North American energy commodity merchant focused on the marketing and
trading of physical refined products, crude oil, renewables, natural gas, and
power. Gunvor USA is headquartered in Houston, Texas, with trading offices in
Stamford, Connecticut and Calgary, Canada.

About Gunvor Group

Gunvor Group is one of the world's largest independent commodities trading
houses by turnover, creating logistics solutions that safely and efficiently
move physical energy from where they it is sourced to where it is are demanded
most. With strategic investments in industrial infrastructure-refineries,
pipelines, storage and terminals-Gunvor further generates sustainable value
across the global supply chain for its customers. In 2019, Gunvor Group
generated USD 75 billion in revenue on 198 million MT of volumes. The Group's
main trading offices are in Geneva, Singapore, Houston and London, with a
network of more than 20 representative and other trading offices around the
globe.

More information can be found at GunvorGroup.com.

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Mr. Seth Thomas Pietras
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OTS: Gunvor Group