Financial news Finance Asia Pacific

Mercuria Signs USD 1 Billion in Financing for its Asian Business

30th November 2017

Singapore, 20 November 2017 – Mercuria Energy Group Ltd. (“Mercuria” or the “Group”), the global energy and commodities group is pleased to announce the successful signing of credit facilities in the amount of USD 1 billion (the “Facilities”) that was joined by a group of 29 banks.

The Facilities were arranged by Australia and New Zealand Banking Group Limited, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Coöperatieve Rabobank U.A. Singapore Branch, DBS Bank Ltd., Emirates NBD PJSC, Singapore Branch, Industrial and Commercial Bank of China Limited, London Branch, ING Bank N.V., Singapore Branch, Mizuho Bank, Ltd., Oversea-Chinese Banking Corporation Limited, Société Générale, Singapore Branch, and Sumitomo Mitsui Banking Corporation Limited Singapore Branch, acting as Bookrunning Mandated Lead Arrangers (“BMLA”).
The Facilities, signed on 17 November 2017, are for a total of USD 1 billion and include a 1 year facility (with an Offshore Chinese Renminbi option), a 1 year swingline facility, as well as the extension of the 2016 3 year facility by a further 12 months. All three facilities are revolving in nature and were issued by Mercuria Energy Trading Pte. Ltd. and Mercuria Asia Group Holdings Pte. Ltd.
Mercuria will use the Facilities to refinance the Group’s maturing 2016 syndicated revolving credit facility dated 17 November 2016, as well as general corporate and working capital purposes. The new Facilities were launched on 18 September 2017 with bank meetings held in Dubai, Abu Dhabi, Shanghai, Beijing and Singapore, and were oversubscribed by more than 45 percent above the initial launch amount.
“This year’s refinancing demonstrates the continued strong support from both new and existing banking partners. Twenty nine geographically diverse banks committed to these Facilities, including a large group of top level BMLA banks”, said Bin Wang, Mercuria’s Chief Financial Officer for Asia.
Guillaume Vermersch, Group Chief Financial Officer added “The lenders in our banking group recognize Mercuria’s operating strategy and are confident in our business model. The Group’s activities have been boosted by our strategic partnership with ChemChina which has already delivered a number of new initiatives in 2017. With our ever increasing footprint in Asia we look forward to deepening the working relationship with these financing partners.”

The following banks joined the Bookrunning Mandated Lead Arrangers in general syndication:
Mandated Lead Arrangers
Bank of China Limited, Singapore Branch
CTBC Bank Co. Ltd
Lead Arrangers
United Overseas Bank Limited
Banco do Brasil AG – Succursale France
National Australia Bank Ltd.
Arab Petroleum Investments Corporation (APICORP)
Commonwealth Bank of Australia
Sumitomo Mitsui Trust Bank, Limited, Singapore Branch
UBS AG, Singapore Branch
Westpac Banking Corporation, Singapore Branch
Credit Agricole Corporate and Investment Bank, Singapore Branch
Commerzbank AG, Singapore Branch
E. SUN Commercial Bank, Ltd., Singapore Branch
KBC Bank N.V. Singapore Branch
Mashreqbank PSC
Natixis, Singapore Branch
Bank of Panhsin
Union de Banques Arabes et Francaises

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