Business news
Mercuria Signs Asia $1.0 Billion USD Revolving Credit Facilities
18.11.2014
SINGAPORE – A group of 38 banks joined with Mercuria Energy Group Ltd. (Mercuria), the global energy and commodities group, to announce the successful signing of a USD 1 billion Asia credit facility.
The banks included Australia and New Zealand Banking Group Limited, The Bank of Tokyo-Mitsubishi UFJ, Ltd., DBS Bank Ltd., Emirates NBD Capital Limited, First Gulf Bank PJSC, Singapore Branch, Industrial and Commercial Bank of China Ltd, ING Bank N.V., The Royal Bank of Scotland plc, Société Générale Corporate & Investment Banking and Sumitomo Mitsui Banking Corporation acting as Mandated Lead Arrangers and Bookrunners.
The facilities, signed 18 November 2014, are comprised of a new USD 622 million 364-day tranche with swingline and Offshore Chinese Renminbi (CNH) options and a USD 378 million three-years revolving tranche. The facilities were issued for Mercuria Energy Trading Pte. Ltd. and Mercuria Asia Group Holdings Pte. Ltd.
Mercuria will use the facilities for general corporate purposes and to refinance the Group’s maturing USD 530 million 364-day and USD 470 million three-year revolving credit facilities dated 30th November 2013.
The new Facilities were launched on 17 September with bank meetings held in Dubai, Shanghai, Taipei and Singapore, and were significantly oversubscribed, more than 60 percent above the initial launch amount.
“We are very pleased with the strong outcome of oversubscription and 38 banks committing to these facilities,” concluded Guillaume Vermersch, Chief Financial Officer of Mercuria. “The number of new geographically diverse banks, and a broader group of top-level Bookrunner Mandated Lead Arranger and Mandated Lead Arranger banks demonstrates the strength of the syndicate and continued confidence of our financing partners in Mercuria’s business model, as well as the robust appeal of the facilities. We look forward to continuing to work closely with our banking group."
The following banks joined the Mandated Lead Arrangers and Bookrunners in general syndication:
Mandated Lead Arrangers
Al Ahli Bank of Kuwait
Arab Petroleum Investments Corporation (APICORP)
The Hongkong and Shanghai Banking Corporation Limited
Mizuho Bank, Ltd
Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank International)
Standard Chartered Bank
Lead Arrangers
Banco do Brasil AG
Bank of China Limited
BNP Paribas
Indian Bank
Oversea-Chinese Banking Corporation Limited
State Bank of India
Westpac Banking Corporation
Arrangers
Commonwealth Bank of Australia
CTBC Bank Co., Ltd.
Garanti Bank International
Hang Seng Bank Limited
Indian Overseas Bank
Qatar National Bank
UBS AG
United Overseas Bank Limited
Co-Arrangers
The Bank of East Asia, Limited
Mashreqbank psc
Mega International Commercial Bank Co., Ltd.
Raiffeisen Bank International AG
Union National Bank PJSC
Managers
Union de Banques Arabes et Françaises
Zenith Bank (UK) Limited
For more information about the facility, kindly contact the following:
Mercuria Energy Trading Pte. Ltd. and Mercuria Asia Group Holdings Pte. Ltd.
Ms. Evelyn Tay
t) +65 6416 2739
Mr. Chew Siang Chee
t) +65 6416 2725
Mercuria Energy Group
Mr. David Stanton
t) +41 22 595 8719
Mr. Marc Koyanagi
t) +44 20 7898 0038
ING Bank N.V.
(Publicity bank on behalf of the Mandated Lead Arranger and Bookrunners) Mr. Paul Verwijmeren
t) +65 6232 6271
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