Mercuria Energy Trading is pleased to announce the successful signing of its US$1,250,000,000 Multicurrency Revolving Credit Facility (the “Facility”) which was initially launched at US$900,000,000.
The Facility was arranged by BNP Paribas, Crédit Agricole Corporate and Investment Bank, Fortis Bank (Nederland) N.V., ING Bank N.V., Natixis, Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (trading as “Rabobank International”), The Royal Bank of Scotland plc, Société Générale Corporate & Investment Banking and Standard Chartered Bank (together the “Mandated Lead Arrangers and Bookrunners”).
A total of 24 banks committed during general syndication in addition to the 9 Mandated Lead Arrangers and Bookrunners. The Facility is split into a US$1,105,000,000 364-day Tranche A and a US$145,000,000 3-year Tranche B.
Guillaume Vermersch - Mercuria Energy Group CFO said :
“ The success of this transaction is supported by the growing diversified business model strategically deployed by Mercuria Energy group over the last 6 years. During 2009, we demonstrated continuing volume and profitability growth, a substantial commitment to the coal business and our Vesta terminal operations, expanded our global trading platform and deepened our capital base. We are very pleased with our bank syndicate’s support which has delivered an oversubscribed deal.”
Mercuria is a privately-owned international group of companies active over a wide spectrum of global energy markets including crude oil and refined petroleum products, natural gas, power, coal, biodiesel, vegetable oils and carbon emissions. It is one of the world’s five largest independent energy traders. It is committed to trading and operational excellence with a exceptional track record of risk management. Mercuria’s outstanding performance is attracting some of the best talent in the commodity and financial world. In addition to its trading core, it has upstream and downstream assets ranging from oil reserves in Argentina, Canada and the US to oil and products terminals in Europe and China, a substantial investment in the coal mining industry and a bio fuels plant.