Business news
Mercuria Energy Closes Multicurrency Revolving Credit Facilities at USD 2.5 Billion
22.06.2015
GENEVA, 22 June 2015 – Mercuria Energy Trading S.A. (“Mercuria” or the “Group”), one of the world’s largest independent energy and commodities groups, has signed USD 2.5 billion multicurrency revolving credit facilities (the “Facilities”). Following strong demand from banks, the Facilities were significantly oversubscribed by 35 percent and subsequently increased in aggregate, with a scale back in participations.
The Facilities were initially launched at USD 2.1 billion on 30 th April, the bank meeting was held in London on 7 th May.
“We are very pleased with the strong outcome. More than 50 banks committed to the Facilities including a number of new geographically diverse banks, and a large group of top level Bookrunning Mandated Lead Arranger (BMLA) and Mandated Lead Arranger (MLA) banks,“ said Guillaume Vermersch, Group Chief Financial Officer of Mercuria. “These Facilities reflect Mercuria’s sustained business growth boosted by the recent acquisition of the J.P. Morgan physical commodities trading books, and the funding will be utilized to support the Group’s ongoing expansion. The strength of the syndicate demonstrates the continued confidence of our financial partners in Mercuria’s business model. We look forward to continuing to work closely with our banking group."
ABN AMRO Bank N.V., Crédit Agricole Corporate and Investment Bank, Industrial and Commercial Bank of China Limited, London Branch, ING Bank N.V., Natixis, Rabobank, The Royal Bank of Scotland plc, Société Générale Corporate & Investment Banking and Sumitomo Mitsui Banking Corporation are acting as Mandated Lead Arrangers and Bookrunners. The facilities closed on 22 June, 2015. The facilities include a new USD 1.9 billion 364-day tranche and a USD 600 million 3-year revolving credit facility for Mercuria.
The Facilities will be used for general corporate purposes and working capital including the refinancing of the Group’s maturing USD 2.055 billion 364-day and USD 595 million 3-year European revolving credit facilities dated 20 th June 2014.
The following banks joined the Mandated Lead Arrangers and Bookrunners in general syndication:
Mandated Lead Arrangers
Bank of America Merrill Lynch
Commonwealth Bank of Australia
Credit Suisse
DBS Bank
Emirates NBD
Lloyds Banking Group
Mizuho Bank, Ltd.
National Bank of Abu Dhabi
Lead Arrangers
Deutsche Bank
First Gulf Bank
UBS
UniCredit
Arrangers
KfW IPEX Bank
Nedbank
State Bank of India
The Bank of Tokyo-Mitsubishi, Ltd.
Co-Arrangers
Commerzbank
Banco Do Brasil
Banco de Sabadell
Bank of Nova Scotia
ANZ
BHF Bank
Commercial Bank of Dubai
Fifth Third Bank
Hang Seng
Landesbank Baden-Wuerttemberg
Raiffeisen Bank International
Sumitomo Mitsui Trust Bank
Zürcher Kantonalbank
Managers
Arab Bank PLC
Bank Leumi
DZ Bank
Hua Nan Commercial Bank
Habib Bank
Axis Bank
Banque Cantonale de Genève
Banque Cantonale Vaudoise
Banque de Commerce et de Placements
Bank of Taiwan
First Commercial Bank
GarantiBank International
Taiwan Co-operative Bank
UBAF
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