Mercuria Signs Asia USD 1.1 billion Revolving Credit Facilities

SINGAPORE, Nov. 23, 2015 /PRNewswire/ -- Mercuria Energy Group Ltd. ("Mercuria" or the "Group"), the global energy and commodities group is pleased to announce the successful signing of credit facilities in the amount of USD 1.1 billion (the "Facilities") that was joined by a group of 27 banks.

The Facilities were arranged by 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, Industrial and Commercial Bank of China Limited, ING Bank N.V., Mizuho Bank, Ltd., Societe Generale Corporate & Investment Banking, Sumitomo Mitsui Banking Corporation, and United Overseas Bank Limited acting as Bookrunning Mandated Lead Arrangers.

The Facilities, signed on 17 November 2015, are for a total of USD 1.1 billion and include a 364-day USD 515 million (with an Offshore Chinese Renminbi option) facility, a 364-day USD 200 million swingline facility, as well as a 3-year USD 385 million facility. All three facilities are revolving in nature and were issued for Mercuria Energy Trading Pte. Ltd. and Mercuria Asia Group Holdings Pte. Ltd.

Mercuria will use the Facilities to refinance the Group's maturing USD 1 billion syndicated revolving credit facility dated 18 November 2014, as well as general corporate and working capital purposes.

The new Facilities were launched on 17 September 2015 with bank meetings held in Dubai, Shanghai, Taipei and Singapore, and were oversubscribed by circa 38 percent above the initial launch amount.

"We are very pleased with the continued support of the banking community as evidenced by the healthy oversubscription and a total of 27 banks committing to the Facilities," said Guillaume Vermersch, Chief Financial Officer of Mercuria. "The lenders in our banking group understand Mercuria's operating strategy and are confident in our business model. We look forward to deepening our working relationship with our financing partners."

The following banks joined the Bookrunning Mandated Lead Arrangers in general syndication:

Mandated Lead Arrangers

Bank of China Limited, Singapore Branch

Rabobank, Singapore Branch

Lead Arrangers

Oversea-Chinese Banking Corporation Limited

Banco do Brasil - France Branch

Westpac Banking Corporation, Singapore Branch

Arrangers    

Commonwealth Bank of Australia, Singapore Branch         

CTBC Bank Co., Ltd. Singapore     

Sumitomo Mitsui Trust Bank, Limited, Singapore Branch  

UBS AG, Singapore Branch 

Co-Arrangers

Hang Seng Bank Limited

The Bank of East Asia, Limited, Singapore Branch

BRED Banque Populaire

Raiffeisen Bank International AG, Singapore Branch

Bank of Panshin

Union De Banques Arabes Et Francaises

Zenith Bank (UK) Limited

SOURCE Mercuria Energy