Mercuria Energy Trading S.A (“Mercuria” or the “Company”), announced today it closed its USD 2.2 Billion Multicurrency Revolving Credit Facilities (the “Facilities”). The Facilities launched at USD 2.1 Billion, and as a result of strong support closed oversubscribed by almost 25 percent. ABN AMRO Bank N.V. (“ABN AMRO”), Crédit Agricole Corporate and Investment Bank SA (“CA CIB”), Credit Suisse AG, Industrial Commercial Bank of China Limited London Branch (“ICBC”), ING Bank N.V. (“ING”), Natixis, Coöperatieve Rabobank U.A. (“Rabobank”), The Royal Bank of Scotland PLC (“RBS”), Société Générale (“SG CIB”), Sumitomo Mitsui Banking Corporation (“SMBC”) and UniCredit Bank AG (“UniCredit”) are the “Bookrunning Mandated Lead Arrangers”. Bank of America Merrill Lynch International Limited, Commonwealth Bank of Australia, DBS Bank Ltd., London Branch, Deutsche Bank AG, Amsterdam Branch, Emirates NBD PJSC, London Branch, Mizuho Bank, Ltd. and National Bank of Abu Dhabi PJSC, London Branch joined as Mandated Lead Arrangers.
The Facilities comprise a 364 day Multicurrency Revolving Credit Facility, a 364 day Multicurrency Revolving Credit Facility/Swingline and a 3 year Revolving Credit Facility. All Facilities include a 364 day extension option, and will be used for general corporate purposes and working capital. The Facilities were launched at USD 2.1 Billion on 15th April and a bank meeting held in London on 18th April. Following strong demand from banks, the Facilities were significantly oversubscribed by more than 25 percent, and subsequently increased to USD 2.2 Billion in aggregate with Mercuria choosing to scale back lenders’ participations.
“This strong outcome represents a tremendous enthusiasm from our banking partners. Thirty-nine geographically diverse banks committed to the Facilities. This includes a large group of top level BMLA and MLA banks” said Guillaume Vermersch, Group Chief Financial Officer of Mercuria. “These Facilities, which Mercuria chose to scale back, reflect Mercuria’s sustained business growth boosted by the recent strategic investment by China National Chemical Corporation, and the funding will be utilized to support the Group’s continued expansion. The strength of the syndicate demonstrates the continued confidence of our financial partners in Mercuria’s business model. We look forward to continuing to work closely with our banking group.”
The following banks joined the Bookrunning Mandated Lead Arrangers and Mandated Lead Arrangers in general syndication:
Bank of Tokyo-Mitsubishi UFJ
First Gulf Bank
Banco do Brasil
Hang Seng Bank
KfW IPEX Bank
Raiffeisen Bank International
Sumitomo Trust and Banking Corp.
Banque Cantonale de Genève
Banque Cantonale Vaudoise
Banque de Commerce et de Placements
Union de Banques Arabes et Françaises
Matt J. Lauer or Benoit Lioud
Industrial and Commercial Bank of China Limited, London Branch
Benny Zachariah, Head of Syndication & Sales
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