MERCURIA ENERGY TRADING PTE LTD (THE “COMPANY”) USD755 MILLION SYNDICATED REVOLVING CREDIT FACILITY (THE “FACILITY”)
Singapore, 7 December, 2011 – A USD755 Million 1 & 3-year syndicated revolving credit facility for Mercuria Energy Trading Pte Ltd was signed yesterday with overwhelming support from 29 international banks. The Facility, which was launched at USD480 Million, closed oversubscribed and was upsized to USD755 Million.
The Company mandated BNP Paribas, DBS Bank Ltd., The Hongkong and Shanghai Banking Corporation Limited, ICBC London plc, ING Bank N.V., Singapore Branch, Société Générale Corporate & Investment Banking, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation (the “Bookrunning Mandated Lead Arrangers”) for this transaction. Proceeds of the Facility will be used to refinance existing debt and to finance general corporate and working capital requirements of the Company. The Facility has tenors of one and three years.
Mercuria Energy Group Chief Financial Officer Guillaume Vermersch said: “Our Singapore regional hub Mercuria Energy Trading Pte Ltd has successfully closed its third fund raising exercise in Asia for a final amount of USD 755 Million. The Facility has been largely oversubscribed (1.6 times) attracting more and more Asian banks. We believe that the resilience of the Mercuria Energy business model having already crossed with success several adverse economic cycles, strongly driven by its risk management focus, is valued by the Asian banking community. The Group will keep on growing and investing in Asia with the support of the local banks.”
The 21 participating banks joining the Bookrunning Mandated Lead Arrangers in the transaction include: Rabobank International, The Royal Bank of Scotland plc and RBS (Deutschland) AG, First Gulf Bank PJSC, Singapore Branch, Indian Overseas Bank, Singapore Branch, Qatar National Bank SAQ, Singapore Branch, United Overseas Bank Limited, Australia and New Zealand Banking Group Limited, The Bank of Tokyo-Mitsubishi UFJ, Limited, Singapore Branch, British Arab Commercial Bank plc, Chinatrust Commercial Bank Co., Ltd, Singapore Branch, Citibank N.A., Singapore Branch, Raiffeisen Bank International AG, Singapore Branch, The Bank of East Asia, Limited, Singapore Branch, Zenith Bank (UK) Ltd., Banco do Brasil, Bank of Taiwan, Singapore Branch, Hang Seng Bank Limited, Krung Thai Bank Public Company Limited, Singapore Branch, Mega International Commercial Bank Co., Ltd., Singapore Branch, P.T. Bank Negara Indonesia (Persero) Tbk, Singapore Branch and Union de Banques Arabes et Francaises.
Mercuria Energy Trading Pte Ltd, incorporated in Singapore in 2004 and wholly owned by Mercuria Energy Group Ltd, is the regional headquarters for principal trading and providing key marketing support and services to the entire Group. Mercuria Energy is trading a diversified base of crude oil, petroleum products, coal and dry freight. It also provides storage, blending, transport and distribution services. Currently, the Company has more than 160 staff headcount as well as offices in Singapore, Beijing (China), Dubai (Emirates), Jakarta (Indonesia) and Mumbai (India). The Company also has a joint venture arrangement with a local marketing company in Bangkok (Thailand).
Mercuria Energy Group
With a 2011 turnover of around USD 70 to 80 billion Mercuria is one of the world’s largest independent energy merchants.
Mercuria has 900 staff operating from 36 offices in more than 28 countries. The group is active in oil, natural gas, LNG, power, coal, bio-diesel and carbon emissions markets.
Underpinning the Group’s market activities is a significant portfolio of strategic physical assets. Mercuria’s infrastructure capabilities include oil and petroleum products storage terminals in North and South America, Europe, Africa and Asia. It has upstream exploration and production assets ranging from oil and gas in Argentina, West Africa and North America to coal mining in South Africa, North America and South East Asia.
Mercuria has the expertise and global reach to solve the energy needs of clients and partners throughout the world. Its customized energy solutions can integrate logistics, physical flows, market and financial requirements, including all key elements from source to supply.
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