Financial news Finance Asia Pacific

Mercuria Signs its Asian USD 1.0 Billion Revolving Credit Facilities

28th November 2013

Singapore, 26th November, 2013 – Mercuria Energy Trading Pte Ltd and Mercuria Asia Group Holdings Pte Ltd (the “Companies”) are pleased to announce the signing of USD 1.0 billion Revolving Credit Facilities (the “Facilities”). The Facilities were launched in September at USD 800 million and upsized after attracting over USD 1.23 billion in commitments, representing a 53% oversubscription and again demonstrating strong support for the Companies’ growth strategy in Asia Pacific.

Mercuria Energy Group Chief Financial Officer, Guillaume Vermersch, said: “Mercuria Energy Trading Pte Ltd and Mercuria Asia Group Holdings Pte Ltd, our Singapore based Global Asian Business Holding Company, have successfully closed their fourth fundraising exercise in Asia for a final amount of USD 1000 million. Once again, these Facilities have been massively oversubscribed, specifically funded by more than 39 Middle Eastern and Asian banks. This is a very strong signal sent by the Middle Eastern and Asian banking communities valuing Mercuria’s trading strategy now fully diversified across Energy, Metals and Mining and continuously growing in these regions.”

The Facilities comprise a USD 430 million 1-year Tranche A Revolving Credit Facility including a Swingline drawing option, a USD 100 million 1-year Tranche B Multicurrency Revolving Credit Facility allowing drawing in USD and CNH, and a USD 470 million 3-year Revolving Credit Facility. They will be used to refinance existing debt and to finance the working capital requirements of the Borrowers, which are both Mercuria Energy Trading Pte Ltd and Mercuria Asia Group Holdings Pte Ltd. The Facilities are irrevocably and unconditionally guaranteed by Mercuria Energy Group Ltd, the ultimate holding company of the Companies and other subsidiaries.

During general syndication, 33 banks committed and in total 47 banks participated in the transaction, with Australia and New Zealand Banking Group Limited, Bank of China Ltd, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Singapore Branch, BNP Paribas, DBS Bank Ltd., Emirates NBD PJSC, Singapore Branch, First Gulf Bank PJSC, Singapore Branch, The Hongkong and Shanghai Banking Corporation Limited, Industrial and Commercial Bank of China Ltd, ING Bank N.V., Rabobank International, The Royal Bank of Scotland plc, Société Générale Corporate & Investment Banking, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation as Mandated Lead Arrangers and Bookrunners.

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