Financial news Finance North America

Mercuria successfully closes oversubscribed secured revolving credit facility of US$ 3,400,000,000 in financing for its North American business

12th December 2022

Mercuria’s North American operating entities (“Mercuria” or “the Company”) are pleased to announce the successful closing of its US$ 3,400,000,000 multi-year senior secured borrowing base credit facility (the “Facility”). The Facility was over-subscribed, enabling Mercuria to increase the size by US$ 100,000,000. The joint and several borrowers are Mercuria Energy America LLC, Minerva Bunkering (USA) LLC, and Mercuria Commodities Canada Corporation (the “Borrowers”).

Societe Generale, MUFG Bank Ltd, Natixis, New York Branch, Cooperatieve Rabobank U.A., New York Branch, and ING Capital LLC were Joint Lead Arrangers and Joint Book-Runners for the Facility. Societe Generale acted as Administrative Agent and Collateral Agent, while MUFG Bank Ltd, Natixis, New York Branch, Cooperatieve Rabobank U.A., New York Branch, and ING Capital LLC acted as Co-Syndication Agents. Sumitomo Mitsui Banking Corporation acted as Joint Lead Arranger and Co-Syndication Agent. Credit Agricole Corporate and Investment Bank, Mizuho Bank, Ltd., and UniCredit Bank AG, New York Branch are participating as Co-Documentation Agents. An additional twelve banks participated at various commitment levels.

Over the past year, The Facility was increased via accordion and amendment by US$ 1,100,000,000 to US$ 3,300,000,000. The Facility will finance the Company’s working capital needs related to its North American operations.

“This year, we have seen substantial growth in our North American business, and through this period, we have seen strong support from our bank group. This has also been a year where we expanded on our syndicate”, said Marty Bredehoft, Mercuria’s Treasurer for the Americas.

Guillaume Vermersch, Mercuria’s Group Chief Financial Officer, added, “We are pleased to have another successful syndication of our North American Facility. This is a testament to our enduring performance and our long-term relationship with our banking partners. We look forward to expanding on our existing banking relationships over the upcoming year as we continue to build on our North American business”.

Established in 2004, Mercuria is one of the world’s largest independent energy and commodity groups, bringing efficiency to the commodity value chain with technology, expertise, and low-carbon solutions. The Company established itself as a leader in the energy transition by pledging more than 50 percent of new investments toward renewables and transitional energy. The Group has made significant investments in projects such as renewable power, energy storage, grid optimization, critical transition minerals recycling and environmental products.

Subscribe for updates

Simply add your email to receive news updates from Mercuria. You can unsubscribe at any time.

Latest news

Solutions to help your company reach net zero

Our team of specialists can provide the optimal solutions to help your business navigate the energy transition.