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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