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Mercuria Signs Asia $1.3 Billion USD Revolving Credit Facilities
10.12.2021

Singapore, 10 December 2021 – 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$1.3 billion (the “Facilities”) that was joined by a group of 31 banks.

The Facilities were arranged by Arab Petroleum Investments Corporation (APICORP), Bank of China Limited, Singapore branch, Coöperatieve Rabobank U.A., Singapore Branch, DBS Bank Ltd., Emirates NBD Capital Limited & Emirates NBD Bank (P.J.S.C), Singapore Branch, Industrial and Commercial Bank of China Ltd, ING Bank N.V., Singapore Branch, Mizuho Bank, Ltd., MUFG Bank, Ltd., Oversea-Chinese Banking Corporation Limited, Société Générale, Hong Kong Branch and Sumitomo Mitsui Banking Corporation Singapore Branch acting as Bookrunning Mandated Lead Arrangers.

The Facilities, signed on 17 November 2021, are for a total of US$1.3 billion and include a 1 year facility (with an Offshore Chinese Renminbi sub-limit), a 1 year swingline facility and a 3 year revolving credit facility.  The facilities were issued for Mercuria Energy Trading Pte. Ltd., Mercuria Asia Group Holdings (Pte.) Ltd. and Mercuria Asia Resources Pte. Ltd.

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

The new Facilities were launched on 16 September for general syndication. Following strong global demand from a range of international banks across continents, the Facilities were oversubscribed by more than 65 percent above the initial launch amount.

“We are very pleased with the strong outcome of oversubscription and 31 banks committing to these Facilities” said Bin Wang, Mercuria’s Chief Financial Officer for Asia. “The addition of a new top-level Bookrunning Mandated Lead Arranger bank, together with new Mandated Lead Arranger banks, and participant banks, coupled with an increase in the size of the facilities from the previous years, demonstrates the strength of the syndicate and continued confidence of our financing partners in Mercuria’s business model. We look forward to working closely with our banking group, as we embark on the energy transition journey."

Guillaume Vermersch, Mercuria’s Group Chief Financial Officer, added, “The lenders in our banking group recognize Mercuria’s operating strategy. Our business model has enabled us to take measured opportunities and provide further profitable growth with robust risk management in place. Turnover continued to be diversified across the Group’s core energy and metal products segments, out-performing in an environment of unprecedented volatility in prices. We are committed to growth in Asia and have recently bolstered our existing talent pool. In addition, we have also introduced LPG and emissions trading here. We plan to be working with our banking partners under our existing and new product suite in a sustainable manner.”

 

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

 

Mandated Lead Arrangers

Abu Dhabi Commercial Bank, PJSC

Indian Bank, Singapore

National Australia Bank Limited

 

Lead Arrangers

Banco do Brasil AG – France Branch

Crédit Agricole Corporate And Investment Bank, Singapore Branch

Westpac Banking Corporation, Singapore Branch

 

Arrangers

China CITIC Bank International Singapore Branch

Commerzbank Aktiengesellschaft, Singapore Branch

Lloyds Bank Corporate Markets plc, Singapore Branch

Natixis Singapore Branch

Sumitomo Mitsui Trust Bank, Limited, Singapore Branch

UBS AG, Singapore Branch

United Overseas Bank Limited

 

Co-Arrangers

AfrAsia Bank Limited

Chang Hwa Commercial Bank, Ltd., Manila Branch

National Bank of Fujairah PJSC

Taichung Commercial Bank Co., Ltd., Offshore Banking Branch

Taiwan Cooperative Bank, Offshore Banking Branch

Bank of Panhsin

For more information about the Facilities, kindly contact the following:

Mercuria

Bin Wang

t) +65 6416 4766

e) bwang@mercuria.com

 

 

ING Bank N.V., Singapore Branch

(Publicity bank on behalf of the Mandated Lead Arranger and Bookrunners)

Mr. Edward Lim

t) +65 6539 7962

e) edward.lim@asia.ing.com

 

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