Financial news Finance Global

Mercuria successfully raises USD 1,800,000,000 Revolving Credit Facility

2nd July 2013

Geneva, Switzerland – Mercuria Energy Trading S.A. (the “Company”) is pleased to announce the successful signing on July 1, 2013 of its new USD 1,350,000,000 364-day and USD 450,000,000 3-year revolving credit facilities. ABN AMRO Bank N.V., BNP Paribas, Crédit Agricole Corporate and Investment Bank, ING Bank N.V., Natixis, Rabobank International, The Royal Bank of Scotland plc, and Société Générale Corporate & Investment Banking (the corporate and investment banking division of Société Générale) acted as Mandated Lead Arrangers and Bookrunners for the facilities.

These new facilities will be used for general corporate purposes and to refinance the Company’s maturing USD 250,000,000 3-year revolving credit facility dated June 3, 2011, USD 1,700,000,000 364-day revolving credit facility and EUR 145,000,000 3-year revolving credit facility dated May 24, 2012.

The new facilities were significantly oversubscribed, 70% above the initial launch amount and subsequently increased to USD 1,350,000,000 and USD 450,000,000 respectively.   The Company was able to benefit from strong market demand and improved conditions in the syndicated loan market. 

Guillaume Vermersch, Group CFO, commented: “In total 48 banks committed to the facility including a number of new banks for Mercuria Energy located in North America, Middle East, Africa and Asia where our banking relationships are developing at a rapid pace. This demonstrates the robust appeal of the facility as well as the repeated confidence in the Company’s business model. We look forward to continuing to work closely with our overall banking group.”

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