Mercuria gets $720 million of revolver financing for Asian business

Chicago, Nov. 24 – Mercuria Energy Group Ltd. signed a $720 million revolving credit facility with a syndicate of 22 banks on Nov. 16, according to a press release on Tuesday.

The facilities include a one-year facility with an offshore renminbi option and a one-year swingline facility.

Both parts are revolving and are being issued by Mercuria Energy Trading Pte. Ltd. and Mercuria Asia Group Holdings Pte. Ltd. as borrowers.

The facilities launched on Sept. 17. They were oversubscribed by 40% above the initial launch amount, with the company choosing to scale back on lender commitments.

The facilities are part of an overall debt stack that includes $380 million in a three-year tranche from a 2019 agreement.

Bank of China Ltd., Singapore Branch, Cooperatieve Rabobank UA Singapore Branch, DBS Bank Ltd., Emirates NBD Capital Ltd., Emirates NBD Bank (PJSC), Singapore Branch, Industrial and Commercial Bank of China Ltd., London Branch, ING Bank NV Singapore Branch, Mizuho Bank, Ltd., MUFG Bank, Ltd., Oversea-Chinese Banking Corp. Ltd., Societe Generale, Hong Kong Branch and Sumitomo Mitsui Banking Corp. Singapore Branch worked as bookrunning mandated lead arrangers.

Lead arrangers were Credit Agricole CIB, Singapore Branch, Indian Bank, National Australia Bank Ltd.

Arrangers were China Citic Bank International Ltd. Singapore Branch, Commerzbank AG, Singapore Branch, Lloyds Bank Corporate Markets plc, Singapore Branch, Natixis Singapore Branch, Sumitomo Mitsui Trust Bank Ltd. Singapore Branch, UBS AG, Singapore Branch and United Overseas Bank Ltd.

National Bank of Fujairah was a co-arranger.

Proceeds will be used to refinance the group’s maturing revolver and for general corporate purposes.

Mercuria is a Geneva-based commodity trading company active in a spectrum of global energy markets.

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