Mercuria Energy Trading has signed US$1.8bn-worth of revolving credit facilities.

ABN Amro, BNP Paribas, Crédit Agricole, ING Bank, Natixis, Rabobank, RBS and Société Générale acted as mandated lead arrangers (MLAs) and bookrunners for the two facilities: a 364-day loan of US$1.35bn 364-day and a three-year loan totalling US$450mn.

The facilities were launched at US$1.4bn on May 7 and closed significantly oversubscribed on July 1. They will be used for general corporate purposes and to refinance the energy and commodity trading company’s existing RCFs: a three-year US$250mn facility signed in June 2011 and a three-year €145mn loan dated May 2012.

Guillaume Vermersch, Mercuria Group CFO, comments on the strong demand from the market: “In total 48 banks committed to the facility, including a number of new banks for Mercuria Energy located in North America, Middle East, Africa and Asia where our banking relationships are developing at a rapid pace. This demonstrates the robust appeal of the facility as well as the repeated confidence in the company’s business model. We look forward to continuing to work closely with our overall banking group.”

The following banks joined the MLAs and bookrunners in general syndication:

Garanti Bank International
Credit Suisse
DBS Bank
JP Morgan
Lloyds Banking Group

Lead arrangers:
Emirates NBD
National Bank of Abu Dhabi
Bank of Baroda
Gazprombank (Switzerland)
Israel Discount Bank

Deutsche Bank and BHF Bank
Raiffeisenbank International and Raiffeisenlandesbank Niederösterreich-Wien
Sumitomo Mitsui Banking Corporation Europe

KfW Ipex-Bank
Bank of America Merrill Lynch
Fifth Third Bank
Banco Do Brasil
Bank Leumi
Bank of Nova Scotia
Bayerische Landesbank
GE Artesia
Hua Nan Commercial Bank
The Mauritius Commercial Bank
Mizuho Corporate Bank
Rand Merchant Bank
Standard Chartered
State Bank of India

Bank of Taiwan
DZ Bank