Mercuria secures $2.2 billion revolver for North American business

By William Gullotti

Buffalo, N.Y., Dec. 7 – Mercuria Energy Trading closed on its $2.2 billion multi-year senior secured borrowing base revolving credit facility, according to a press release on Tuesday.

The borrowers from the group are Mercuria Energy America LLC, Minerva Bunkering (USA) LLC and Mercuria Commodities Canada Corp.

The company reported the facility was oversubscribed, which allowed for a $500 million size increase and the addition of a two-year tranche.

Societe Generale, MUFG Bank Ltd., Natixis, New York Branch, Cooperatieve Rabobank UA, New York Branch, ING Capital LLC and Sumitomo Mitsui Banking Corp. were the joint lead arrangers and joint bookrunners.

Societe Generale acted as administrative agent and collateral agent.

Acting as co-syndication agents were MUFG, Natixis, Rabobank, ING and Sumitomo Mitsui.

Credit Agricole CIB, Mizuho Bank, Ltd. and UniCredit Bank AG, New York Branch are participating as co-documentation agents.

Ten additional banks also participated at various commitment levels.

Proceeds will be used to finance the company’s working capital needs related to North American operations. Additionally, the facility continues to grow its capacity to finance the ongoing transition into green energy with the company’s growing renewable portfolio in North America.

Mercuria is a Geneva-based commodity trading company active in a spectrum of global energy markets. The North American hub for the company is in Houston.

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