Mercuria Energy Group has signed an increased US$2.65bn revolving credit facility (RCF) in anticipation of its acquisition of JP Morgan’s trading arm.

The new RCF will be partly used to refinance the Swiss trading house’s existing US$1.35bn one-year and US$450mn three-year RCFs, with the company stating the financing will be used for general corporate purposes.

Commenting on the deal, Mercuria group CFO Guillaume Vermersch says: “This is a strong vote of confidence from the market. The additional resources provide a strong platform for the integration of the JP Morgan commodity business and position the group to seize future opportunities as they arise.”

In March, Mercuria agreed to acquire JP Morgan’s physical commodity trading unit for US$3.5bn in an all-cash transaction. The deal makes the trading house one of the world’s largest alongside Glencore Xstrata, Vitol and Trafigura. No trading company has grown faster in the last 10 years, according to Forbes.