The banks included Australia and New Zealand Banking Group Limited, The Bank of Tokyo-Mitsubishi UFJ, Ltd., DBS Bank Ltd., Emirates NBD Capital Limited, First Gulf Bank PJSC, Singapore Branch, Industrial and Commercial Bank of China Ltd, ING Bank N.V., The Royal Bank of Scotland plc, Societe Generale Corporate & Investment Banking and Sumitomo Mitsui Banking Corporation acting as Mandated Lead Arrangers and Bookrunners.
The facilities, signed 18 November 2014, are comprised of a new USD 622 million 364-day tranche with swingline and Offshore Chinese Renminbi (CNH) options and a USD 378 million three-years revolving tranche. The facilities were issued for Mercuria Energy Trading Pte. Ltd. and Mercuria Asia Group Holdings Pte. Ltd.
Mercuria will use the facilities for general corporate purposes and to refinance the Group's maturing USD 530 million 364-day and USD 470 million three-year revolving credit facilities dated 30th November 2013.
The new Facilities were launched on 17 September with bank meetings held in Dubai, Shanghai, Taipei and Singapore, and were significantly oversubscribed, more than 60 percent above the initial launch amount.
"We are very pleased with the strong outcome of oversubscription and 38 banks committing to these facility," concluded Guillaume Vermersch, Chief Financial Officer of Mercuria. "The number of new geographically diverse banks, and a broader group of top-level Bookrunner Mandated Lead Arranger and Mandated Lead Arranger banks demonstrates the strength of the syndicate and continued confidence of our financing partners in Mercuria's business model, as well as the robust appeal of the facilities. We look forward to continuing to work closely with our banking group."
The following banks joined the Mandated Lead Arrangers and Bookrunners in general syndication:
Mandated Lead Arrangers
Al Ahli Bank of Kuwait
Arab Petroleum Investments Corporation (APICORP)
The Hongkong and Shanghai Banking Corporation Limited
Mizuho Bank, Ltd
Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank International)
Standard Chartered Bank
Lead Arrangers
Banco do Brasil AG
Bank of China Limited
BNP Paribas
Indian Bank
Oversea-Chinese Banking Corporation Limited
State Bank of India
Westpac Banking Corporation
Arrangers
Commonwealth Bank of Australia
CTBC Bank Co., Ltd.
Garanti Bank International
Hang Seng Bank Limited
Indian Overseas Bank
Qatar National Bank
UBS AG
United Overseas Bank Limited
Co-Arrangers
The Bank of East Asia, Limited
Mashreqbank psc
Mega International Commercial Bank Co., Ltd.
Raiffeisen Bank International AG
Union National Bank PJSC
Managers
Union de Banques Arabes et Françaises
Zenith Bank (UK) Limited
About Mercuria
Mercuria is a leading energy and commodities group. With a 2013 turnover of USD 112 billion, Mercuria, primarily focused on energy, is present all along the commodity value chain with activities forming a balanced combination of commodity flows and strategic assets. More than 1,000 people are operating from offices worldwide to sustain the Group's extensive business reach with their market knowledge, diversity, and experience.
Mercuria's expertise covers all segments of the energy market, including associated environmental products, and extends to iron ore, dry-bulk freight, base metals and petrochemicals.
The Group also invests in upstream oil, gas and coal mining assets around the world. These investments underpin Mercuria's growing presence as a major player in the global market.
The Group maintains sound infrastructure capabilities, including oil petroleum products storage terminals and production assets. Mercuria's logistics, storage and blending facilities enable us to deliver a wide range of products on time and anywhere in the world.
Mercuria recently completed the acquisition of the physical commodities business of J.P. Morgan Chase & Co., thereby extending the range of services offered to its clients and counterparties while balancing its global positions.
Source: Mercuria