?

Business news

Mercuria successfully closes oversubscribed revolving credit facility of Us$ 1,350,000,000 in financing for its Asian business
27.11.2018

Singapore, 27 November 2018 – Mercuria Energy Group Ltd. (“Mercuria” or the “Group”), the global energy and commodities group is pleased to announce the successful signing of credit facilities in the amount of US$ 1.35 billion (the “Facilities”) that was joined by a group of 36 banks.

The Facilities were arranged by Australia and New Zealand Banking Group Limited, Bank of China, Singapore Branch, Coöperatieve Rabobank U.A. Singapore Branch, DBS Bank Ltd., Emirates NBD Capital Limited, Industrial and Commercial Bank of China Limited, London Branch, ING Bank N.V. Singapore Branch, Mizuho Bank, Ltd., MUFG Bank, Ltd., Oversea-Chinese Banking Corporation Limited, Société Générale Corporate & Investment Banking, and Sumitomo Mitsui Banking Corporation Singapore Branch, acting as Bookrunning Mandated Lead Arrangers (“BMLA”).

The Facilities, signed on 19 November 2018, are for a total of US$ 1.35 billion and include a 1 year facility (with an Offshore Chinese Renminbi option), a 1 year swingline facility and a 3 year revolving credit facility. All three facilities are revolving in nature and were issued by Mercuria Energy Trading Pte. Ltd. and Mercuria Asia Group Holdings Pte. Ltd.

Mercuria will use the Facilities to refinance the Group’s maturing syndicated revolving credit facilities, as well as for general corporate and working capital purposes.

The new Facilities were launched on 14 September 2018 with bank meetings held in Taipei, Dubai, Abu Dhabi, Shanghai, and Singapore. Following strong global demand from a range of international banks across continents, the new RCF was oversubscribed by more than 50 percent above the initial launch amount. The facility was upsized after substantial scale back.

“This year’s refinancing demonstrates the continued strong support from both new and existing banking partners. Thirty-six geographically diverse banks committed to these Facilities, including a large group of top level BMLA banks. We are pleased to announce that we have one additional BMLA on board this year, together with eight new banks participating in our Asian facilities.”, said Bin Wang, Mercuria’s Chief Financial Officer for Asia.

Guillaume Vermersch, Group Chief Financial Officer added “The lenders in our banking group recognize Mercuria’s operating strategy and are confident in our business model. The Group’s activities have been boosted by our strategic partnership with ChemChina, which has continued to deliver a number of new initiatives in 2018. With our ever increasing footprint in Asia, we look forward to deepening the working relationship with these financing partners.”

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

Mandated Lead Arrangers

United Overseas Bank Limited

Arab Petroleum Investments Corporation (APICORP)
CTBC Bank Co., Ltd.
Indian Bank, Singapore

Lead Arrangers
Banco Do Brasil Corporate Banking Europe
Agriculture Bank of China Limited, Singapore Branch

Credit Agricole Corporate and Investment Bank, Singapore Branch

Malayan Banking Berhad, Singapore Branch

National Australia Bank Ltd.

Shanghai Pudong Development Bank Singapore Branch

Arrangers
Commerzbank AG, Singapore Branch
Commonwealth Bank of Australia, Singapore Branch
Natixis Singapore Branch

Sumitomo Mitsui Trust Bank, Limited, Singapore Branch
UBS AG, Singapore Branch
Westpac Banking Corporation, Singapore Branch

Co-Arrangers
ABN AMRO Bank N.V., Singapore Branch

E. SUN Commercial Bank, Ltd., Singapore Branch
Lloyds Bank Corporate Markets plc, Singapore Branch

Taichung Commercial Bank Co. Ltd., Offshore Banking Branch

Taipei Fubon Commercial Bank Co. Ltd.

Taiwan Cooperative Bank, Offshore Banking Branch

Bank of Panhsin

Union De Banques Arabes ET FrançaisesFor more information about the Facilities, kindly contact the following:

Mercuria

Jeff Webster

t) +44 20 78 98 0062

e) jwebster@mercuria.com

Bin Wang

t) +65 6416 4766

e) bwang@mercuria.com

Emirates NBD Capital Limited & Emirates NBD Bank PJSC

(Publicity bank on behalf of the Bookrunning Mandated Lead Arrangers)

Mr. Shahnawaz Alam

t) +971 4 303 2865

e) ShahnawazA@MemiratesNBD.com

Latest news

2017 archive

2016 archive

2015 archive

2014 archive

2013 archive

2012 archive

2011 archive

2010 archive

Back to top