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Mercuria finalises oversubscribed USD 1.5 billion revolving credit facility

26 Jun 2020

Swiss international commodity trading company Mercuria Energy Trading S.A (Mercuria) on Thursday (25 June) has closed its USD 1.5 Billion Multicurrency Revolving Credit Facilities. 

Mercuria listed the following banks as Mandated Bookrunning Lead Arrangers for the facilities: ABN AMRO Bank N.V., Coöperatieve Rabobank U.A., Crédit Agricole Corporate and Investment Bank, Credit Suisse (Switzerland) Ltd, Industrial Commercial Bank of China Limited, London Branch , ING Bank N.V., Mizuho Bank, Ltd., Natixis, Société Générale (acting through its corporate & investment banking division), Sumitomo Mitsui Banking Corporation and UniCredit Bank AG. 

Bank of China Limited, London Branch, Commerzbank AG London Branch, DZ BANK AG, Emirates NBD PJSC London Branch and UBS Switzerland AG joined as Mandated Lead Arrangers, it added. 

The Facilities were launched at USD 1.2 Billion at the end of April, 2020 and a bank presentation was organised by webinar due to the COVID-19 pandemic. 

Following strong demand from banks, the Facilities were oversubscribed by more than 25% and subsequently increased to USD 1.5 Billion in aggregate, with Mercuria choosing to scale back lender commitments, reported the company.

The Facilities comprise a 1-year Multicurrency Revolving Credit Facility and a 1-year Multicurrency Revolving Credit/Swingline/OBSI Facility and will be used for general corporate purposes and working capital.

“The renewal of our 2020 European RCF (ERCF) has again been a success in difficult market conditions, underlying the strong vote of confidence coming from our banking partners, who value the resilience and performance of the business model developed by Mercuria over the past 16 years,” said Guillaume Vermersch, Group Chief Financial Officer of Mercuria.

Mercuria is the parent company of Minerva Bunkering, which secured a bunkering license at the Port of Singapore in April 2020.

Related: Singapore: Minerva Bunkering and TFG Marine obtain bunker supplier license
Related: GP Global, Mercuria, Trafigura reportedly aiming for Singapore bunker supplier status

Photo credit: Mercuria
Published: 28 June, 2020

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