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Mercuria Closes Oversubscribed US$ 1,500,000,000 Revolving Credit Facility
25.06.2020

GENEVA -- Mercuria Energy Trading S.A (“Mercuria”) has closed its USD 1.5 Billion Multicurrency Revolving Credit Facilities (the “Facilities”). ABN AMRO Bank N.V., Coöperatieve Rabobank U.A., Crédit Agricole Corporate and Investment Bank, Credit Suisse (Switzerland) Ltd, Industrial Commercial Bank of China Limited, London Branch , ING Bank N.V., Mizuho Bank, Ltd., Natixis, Société Générale (acting through its corporate & investment banking division), Sumitomo Mitsui Banking Corporation and UniCredit Bank AG acted as Bookrunning Mandated Lead Arrangers. Bank of China Limited, London Branch, Commerzbank AG London Branch, DZ BANK AG, Emirates NBD PJSC London Branch and UBS Switzerland AG joined as Mandated Lead Arrangers.

The Facilities were launched at USD 1.2 Billion on 24th April, and a bank presentation was organised by webinar on 28th April. Following strong demand from banks, the Facilities were oversubscribed by more than 25% and subsequently increased to USD 1.5 Billion in aggregate, with Mercuria choosing to scale back lender commitments.

The Facilities comprise a 1-year Multicurrency Revolving Credit Facility and a 1-year Multicurrency Revolving Credit/Swingline/OBSI Facility. The two 1-year Multicurrency Revolving Credit Facilities include two 1-year extension options. Lenders also extended by one year commitments in the existing 3-year Revolving Credit Facility. The Facilities will be used for general corporate purposes and working capital.

“The renewal of our 2020 European RCF (ERCF) has again been a success in difficult market conditions, underlying the strong vote of confidence coming from our banking partners, who value the resilience and performance of the business model developed by Mercuria over the past 16 years,” said Guillaume Vermersch, Group Chief Financial Officer of Mercuria.

The following banks joined the Bookrunning Mandated Lead Arrangers and Mandated Lead Arrangers in general syndication:

Lead Arrangers:

Agricultural Bank of China Limited, London Branch

DBS Bank Ltd, London Branch

First Abu Dhabi Bank (PJSC)

KfW IPEX-Bank GmbH

MUFG Bank, Ltd.

 

Arrangers:

CaixaBank, S.A.

Erste Group Bank AG

Lloyds Bank plc

Raiffeisen Bank International AG

Sumitomo Mitsui Trust Bank, Limited (London Branch)

Zürcher Kantonalbank

 

Co-Arranger:

Banque Cantonale Vaudoise

 

Participant:

Garanti Bank International

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