More NewsMercuria Energy Signs Syndicated Revolving Credit Facility in Asia

Mercuria Energy Signs Syndicated Revolving Credit Facility in Asia

Mercuria Energy Trading signed a US$755m 1- and 3-year syndicated revolving credit facility with overwhelming support from 29 international banks. The facility, which was launched at US$480m, closed oversubscribed and was upsized to US$755m.

The company mandated BNP Paribas, DBS Bank, HSBC, ICBC London, ING Bank, Singapore Branch, Societe Generale Corporate and Investment Banking (SGCIB), Standard Chartered Bank and Sumitomo Mitsui for this transaction. Proceeds of the facility will be used to refinance existing debt and to finance general corporate and working capital requirements of the fompany.

Mercuria Energy Group chief financial officer (CFO), Guillaume Vermersch, said: “Our Singapore regional hub Mercuria Energy Trading has successfully closed its third fund raising exercise in Asia for a final amount of US$755m. The facility has been largely oversubscribed (1.6 times) attracting more and more Asian banks. We believe that the resilience of the Mercuria Energy business model having already crossed with success several adverse economic cycles, strongly driven by its risk management focus, is valued by the Asian banking community. The group will keep on growing and investing in Asia with the support of the local banks.”

Comments are closed.

Subscribe to get your daily business insights

Whitepapers & Resources

2021 Transaction Banking Services Survey
Banking

2021 Transaction Banking Services Survey

2y
CGI Transaction Banking Survey 2020

CGI Transaction Banking Survey 2020

4y
TIS Sanction Screening Survey Report
Payments

TIS Sanction Screening Survey Report

5y
Enhancing your strategic position: Digitalization in Treasury
Payments

Enhancing your strategic position: Digitalization in Treasury

5y
Netting: An Immersive Guide to Global Reconciliation

Netting: An Immersive Guide to Global Reconciliation

5y