Financial news Finance Europe

Mercuria Energy Trading SA successfully closes USD 2.4 Billion Multi-Currency revolving credit facilities

29th June 2018

Mercuria Energy Trading S.A (“Mercuria”) has closed its USD 2.4 Billion Multicurrency Revolving Credit Facilities (the “Facilities”).

ABN AMRO Bank N.V., Coöperatieve Rabobank U.A., Crédit Agricole Corporate and Investment Bank , Credit Suisse (Switzerland) Ltd, Industrial Commercial Bank of China Limited, London Branch , ING Bank N.V., Mizuho Bank, Ltd., National Westminster Bank Plc, Natixis, Société Générale (acting through its Corporate & Investment Banking Division), Sumitomo Mitsui Banking Corporation  and UniCredit Bank AG acted as Bookrunning Mandated Lead Arrangers. Bank of America Merrill Lynch International Limited, Bank of China Limited, London Branch, DBS Bank Ltd, London Branch, DZ BANK AG, Deutsche Zentralgenossenschaftsbank, Frankfurt am Main, Emirates NBD PJSC London Branch, First Abu Dhabi Bank (PJSC) and UBS Switzerland AG joined as Mandated Lead Arrangers.

The Facilities were launched at USD 2.1 Billion on 23rd April and a bank meeting was held in London on 25th April. Following strong demand from banks, the Facilities were oversubscribed by more than 33%, and subsequently increased to USD 2.4 Billion in aggregate, with Mercuria choosing to scale back lender commitments. 

The Facilities comprise a 1-year Multicurrency Revolving Credit Facility, a 1-year Multicurrency Revolving Credit Facility/Swingline and a 3-year Revolving Credit Facility. The two 1-year Multicurrency Revolving Credit Facilities (launched at USD 1.7 Billion) both include two 12-month extension options. The 3-year Revolving Credit Facility (launched at USD 400 Million) also includes two 12-month extension options. The Facilities will be used for general corporate purposes and working capital.

“Our 2018 European RCF successful renewal is another very strong message sent by our banking partners, highlighting their deep understanding of Mercuria’s diversified and robust business model . Forty geographically different strategic banks have participated into the Facility which has been highly oversubscribed.” said Guillaume Vermersch, Group Chief Financial Officer of Mercuria.

We look forward to continuing to work closely with our banking group, essential to keep on supporting the ongoing growth of the firm.”

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

Lead Arrangers:

Agricultural Bank of China Limited, London Branch

Agricultural Bank of China Limited, Frankfurt Branch

China Construction Bank Corporation, Beijing, Swiss Branch Zurich

Commonwealth Bank of Australia, London Branch

MUFG Bank, Ltd.

Arrangers:

Banco do Brasil AG

Commerzbank AG London Branch

KfW IPEX-Bank GmbH

Co-Arrangers:


Absa Bank Limited

CaixaBank, S.A.

Erste Group Bank AG, London Branch

Lloyds Bank plc

Nedbank

Raiffeisen Bank International AG

Sumitomo Mitsui Trust Bank, Limited (London Branch)

Zürcher Kantonalbank

Participants:


Banque Cantonale De Geneve

Banque Cantonale Vaudoise

Hua Nan Commercıal Bank Ltd., London Branch

Union de Banques Arabes et Françaises

First Commercial Bank, Limite

Press Contacts:

Mercuria Energy Trading SA

Name:  Matt J. Lauer or Benoit Lioud

Tel: +41 22 594 7000Email: communications@mercuria.com

Industrial and Commercial Bank of China Limited, London Branch

Name: Ashraf Siddiqui

Title: Global Loan Syndications

Tel: +44 20 7398 9576

Email: ashraf.siddiqui@icbclondon.com

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