Swiss energy trader Mercuria has closed a US$755mn oversubscribed one and three-year syndicated revolving credit facility from 29 international banks.

The loan, which was upsized from US$480mn, will be used to refinance existing debt and to finance general corporate and working capital requirements.

Mercuria’s chief financial officer, Guillaume Vermersch adds: “The facility has been largely oversubscribed (1.6 times) attracting more and more Asian banks. We believe that the resilience of the Mercuria energy business model having already crossed with several adverse economic cycles, strongly driven by its risk management focus, is valued by the Asian banking community. The group will keep on growing and investing in Asia with the support of the local banks.”

The mandated lead arrangers in the deal include, BNP Paribas, DBS Bank, HSBC, ICBC, ING, Société Générale CIB, Standard Chartered and SMBC.

Other banks in the transaction include
Rabobank International
First Gulf Bank
Indian Overseas Bank
Qatar National Bank
United Overseas Bank
Australia and New Zealand Banking Group
British Arab Commercial Bank
Chinatrust Commercial Bank
Raiffeisen Bank International
The Bank of East Asia
Zenith Bank
Banco do Brasil
Bank of Taiwan
Hang Seng Bank
Krung Thai Ban
Mega International Commercial Bank
Bank Negara Indonesia
Union de Banques Arabes et Francaises