SINGAPORE, Dec. 2, 2024 /PRNewswire/ — Mercuria Energy Group Ltd. (“Mercuria”) is pleased to announce the successful closing of its USD 1,699,084,507 equivalent in USD and CNH Syndicated Term Loan and Revolving Credit Facilities (the “Facilities”) in Asia.
Mercuria mandated Abu Dhabi Commercial Bank, PSJC, Arab Petroleum Investments Corporation, Bank of China Limited, Singapore Branch, DBS Bank Ltd., Industrial and Commercial Bank of China Limited, London Branch, Mizuho Bank, Ltd., MUFG Bank, Ltd., Oversea-Chinese Banking Corporation Limited, Sumitomo Mitsui Banking Corporation Singapore Branch and the Export-Import Bank of China as Bookrunning Mandated Lead Arrangers.
The Facilities were launched at USD 850,000,000 on September 2nd, and a bank meeting was held on September 12th in Singapore. Following successful syndication and strong demand, the Facilities were oversubscribed by more than 90% compared to the launch amount. Mercuria chose to scale back lender commitments to an increased amount of USD 1,699,084,507 in aggregate.
The Facilities comprise of (I) a 1-year USD Revolving Credit Facility, which includes a Revolving Credit/Swingline Facility in US Dollars, (II) a new 1-year Term Loan Credit Facility in Offshore Chinese Renminbi (“CNH”), and (III) a 3-year USD Revolving Credit Facility, each with two additional 12-month extension options. The Facilities will be used for general corporate and the Group’s working capital purposes.
“Thirty-three banks have participated in the Facilities, including new lenders from the Asia-Pacific and Middle East region. As we ramp up our resources within Asia with new manpower, we are pleased that our banks provide strong support. Asia remains an important market for Mercuria as we continue to build up our presence in China, Japan, Australia, and New Zealand and beyond.” said Guillaume Vermersch, Mercuria’s Group CFO.
Anthony Ford, Mercuria’s Asia CFO and Global Head of Credit, added, “We are very pleased with the overwhelming response to our renewal of our Asian RCF, especially regarding the dedicated CNH tranche from our existing and new Chinese lenders. We see strong opportunities in China and will continue to explore this with our banking partners.”
The following banks joined the BMLAs in the new and existing Facilities:
Bookrunning Mandated Lead Arrangers
Arab Petroleum Investments Corporation
Industrial and Commercial Bank of China Limited, London Branch
The Export-Import Bank of China
Bank of China Limited, Singapore Branch
Abu Dhabi Commercial Bank PJSC
DBS Bank Ltd.
Mizuho Bank, Ltd.
MUFG Bank, Ltd.
Oversea-Chinese Banking Corporation Limited
Sumitomo Mitsui Banking Corporation Singapore Branch
Mandated Lead Arrangers
China Merchants Banking Group
China Merchants Bank Co., Ltd, Singapore Branch
CMB Wing Lung Bank Limited
China CITIC Banking Group
China CITIC Bank International Limited Singapore Branch
China CITIC Bank Corporation Limited Shanghai Branch
China CITIC Bank Corporation Limited London Branch
Agricultural Bank of China Limited, Singapore Branch
Emirates NBD Bank (P.J.S.C) Singapore Branch
National Bank of Australia Limited
UBS AG, Singapore Branch
Union Bank of India, Sydney Branch
Westpac Banking Corporation, Singapore Branch
China Construction Bank Corporation, Singapore Branch
Lead Arrangers
Cooperatieve Rabobank U.A., Singapore Branch
First Abu Dhabi Bank PJSC, Singapore Branch
Credit Agricole Corporate & Investment Bank, Singapore Branch
Kookmin Bank Co., Ltd. Singapore Branch
Natixis, Singapore Branch
Societe Generale, a public limited company incorporated in France, is acting through its Hong Kong branch.
Arrangers
Shanghai Pudong Development Bank Co., Ltd. HuangPu Branch
National Bank of Fujairah PJSC
Sumitomo Mitsui Trust Bank Limited, Singapore Branch
China Everbright Bank Shanghai Branch
United Overseas Bank Limited
About Mercuria Energy Trading SA
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 renewable power, energy storage, grid optimization, critical transition minerals recycling, and environmental products.
For further information, visit: www.mercuria.com
SOURCE Mercuria