Mercuria Energy Group Limited (“Mercuria”) is pleased to announce a new JPY 55.5 billion, three-year Samurai Term Loan Facility (the “Samurai Loan”).
This is the fourth time that Mercuria have visited the Japanese syndicated loan market with four new financial institutions joining a total syndicate of twenty banks. The facility replaces the existing JPY 46.5 billion Samurai Loan signed in 2018 and will be used for general corporate and working capital purposes.
Although the economic and social impact of COVID-19 is developing rapidly, the closing of this transaction demonstrates the resilience of the samurai loan market to support Mercuria who have been active in this market since 2014. The increase of JPY 9 billion of the size of the facility is a testimony to the long-term relationships formed with the existing lenders and new participants into the banking group.
Guillaume Vermersch, Mercuria Group CFO, also noted ”This is our fourth Samurai Loan and our most successful yet, demonstrating a strong vote of confidence from our Asian banking partners in Mercuria’s business model and performance. It raised an additional JPY 9 billion of liquidity and was very competitively priced compared to recent margin increases observed in an otherwise challenging market environment.”
The Samurai Loan was coordinated by Mizuho Bank, Ltd., MUFG Bank, Ltd., and Sumitomo Mitsui Banking Corporation acting as Joint Bookrunning Mandated Lead Arrangers.
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