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Mercuria Signs Asia $1.393 Billion USD Revolving Credit Facilities
29.11.2022

Mercuria Energy Group Ltd. (“Mercuria” or the “Group), one of the largest integrated energy and commodity trading companies in the world, is pleased to announce the successful closing of credit facilities of US$1.393 billion (the “Facilities”) that was joined by a group of 31 banks, including two new lenders.

The Facilities were arranged by Abu Dhabi Commercial Bank, PSJC, Arab Petroleum Investments Corporation (APICORP), Bank of China Limited, Singapore Branch, Coöperatieve Rabobank U.A. Singapore Branch, DBS Bank Ltd., 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 Hong Kong Branch, and Sumitomo Mitsui Banking Corporation Singapore Branch, acting as the Bookrunning Mandated Lead Arrangers (“BMLAs”).

The Facilities, signed on 17 November 2022, are for a total of US$1.393 billion and include new facilities consisting of a one-year multicurrency revolving credit facility (with an Offshore Chinese Renminbi sub-limit), a one-year term loan facility, a one-year swing-line facility and a three-year revolving credit facility, together with existing 2021 three-year revolving credit facility. The Facilities were issued for Mercuria Asia Group Holdings Pte. Ltd., Mercuria Energy Trading Pte. Ltd., and Mercuria Asia Resources Pte. Ltd.

Mercuria will use the proceeds for general corporate and working capital purposes, and to refinance the Group’s maturing syndicated facilities. Mercuria has become one of the most active players in the renewable markets, with more than fifty percent of new investments dedicated to the energy transition.

The new facilities were launched on 14 September 2022 for general syndication. Following strong global demand from a range of international banks across continents, the new facilities were oversubscribed by more than 30 percent above the initial launch amount.

“Despite the heighten market volatility, we are pleased to receive the strong outcome and solid support of the banks committing to the Facilities” said Bin Wang, Mercuria’s Chief Financial Officer for Asia. “The addition of a new top-level BMLA bank and two new participant banks, coupled with the increase in the size of the facilities, demonstrates the strength of the syndicate and continued confidence of our financing partners in Mercuria’s business model.”

Guillaume Vermersch, Mercuria’s Group Chief Financial Officer, added “On the back of our successful Samurai loan syndication, we are very pleased to announce the closing of yet another oversubscribed Asian syndication this year. The Facilities will support the Group’s efforts in deepening its energy transition efforts along the value chain, whilst complementing our existing business model. We look forward to working closely with our diversified banking group as we continue to grow the Asian business.”

The following banks joined the BMLAs in the new and existing Facilities:

 

Mandated Lead Arrangers

Emirates NBD Bank (P.J.S.C.), Singapore Branch

National Australia Bank Limited

Indian Bank, Singapore

 

Lead Arrangers

Crédit Agricole Corporate and Investment Bank, Singapore Branch

Westpac Banking Corporation, Singapore Branch

Banco do Brasil AG – France Branch

 

Arrangers

China CITIC Bank International Limited 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

China Merchants Bank Co. Ltd, Singapore Branch

Europe Arab Bank S.A.

National Bank of Fujairah PJSC

Bank of Panhsin

Chang Hwa Commercial Bank, Ltd., Manila Branch

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

Taiwan Cooperative Bank, Offshore Banking Branch

 

Mercuria

Bin Wang

Chief Financial Officer – Asia

Tel: (65) 6416 4766

Email: bwang@mercuria.com

Michelle Tay

Head of Treasury & Trade Finance – Asia

Tel: (65) 6416 3506

Email: michelletay@mercuria.com

 

Mizuho Bank, Ltd.

Publicity Bank on behalf of the BMLAs

Tham Kong Chiu

Head of Loan Origination, Singapore

Asia Syndicated Finance Department

Tel: (65) 6805-3615

Email: kongchiu.tham@mizuho-cb.com

Lai Ping

Senior Vice President

Asia Syndicated Finance Department

Tel: (65) 6805-3614

Email: ping.lai@mizuho-cb.com

 

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