Mercuria Closes Oversubscribed Revolving Credit Facility of US$ 720,000,000 In Financing for its Asian Business

 
 

- 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 US$ 720 million (the "Facilities") that was joined by a group of 22 banks.

 

The Facilities were arranged by Bank of China Limited, Singapore Branch, Coöperatieve Rabobank U.A. Singapore Branch, DBS Bank Ltd., Emirates NBD Capital Limited, Emirates NBD Bank (P.J.S.C), Singapore Branch, Industrial and Commercial Bank of China Limited, London Branch, ING Bank N.V. Singapore Branch, Mizuho Bank , Ltd., MUFG Bank, Ltd., Oversea-Chinese Banking Corporation Limited, Société Générale, Hong Kong Branch, and Sumitomo Mitsui Banking Corporation Singapore Branch, acting as Bookrunning Mandated Lead Arrangers ("BMLAs").

 

The Facilities, signed on 16 November 2020 , are for a total of US$ 720 million and include a one-year facility (with an Offshore Chinese Renminbi option), and one-year swingline facility.  The Facilities are revolving in nature and were issued by Mercuria Energy Trading Pte. Ltd. and Mercuria Asia Group Holdings Pte. Ltd. acting as Borrowers.

 

Mercuria will use the Facilities to refinance the Group's maturing syndicated revolving credit facilities, as well as for general corporate and working capital purposes.

 

The new Facilities were launched on 17 September 2020 for general syndication. Following strong global demand from a range of international banks across continents, the new RCF was oversubscribed by about 40 percent above the initial launch amount, with Mercuria choosing to scale back on lender commitments. The Facilities complement the existing US$ 380 million 3-year tranche of the 2019 Agreement. The combined US$ 1.1 billion one-year and three-year ARCF facilities continue to be an important pillar of the Group financing strategy.

 

"Despite the unprecedented events seen in 2020, especially in the commodity markets, we are very pleased to announce the continued support from our twenty-two geographically diverse banking partners, including a large group of top-level BMLA banks. This support demonstrates their strong confidence in Mercuria and our business model, coupled with our solid risk management capabilities in such volatile times," said Bin Wang, Mercuria's Chief Financial Officer for Asia .

 

  Guillaume Vermersch , Mercuria's Group Chief Financial Officer, added: "The lenders in our banking group recognize Mercuria's operating strategy. Our diversified business model has enabled us to take measured opportunities and provide further profitable growth with stringent risk management in place. We are committed to growth in Asia and look forward to working with our banking partners in a sustainable manner."

 

The following banks joined the transaction:

 

  Bookrunning Mandated Lead Arrangers
Bank of China Limited, Singapore Branch
Coöperatieve Rabobank U.A. Singapore Branch
DBS Bank Ltd.
Emirates NBD Capital Limited
Industrial and Commercial Bank of China Limited, London Branch
ING Bank N.V. Singapore Branch
Mizuho Bank , Ltd.
MUFG Bank, Ltd.
Oversea-Chinese Banking Corporation Limited
Société Générale, Hong Kong Branch
Sumitomo Mitsui Banking Corporation Singapore Branch

 

  Lead Arrangers
Crédit Agricole Corporate and Investment Bank, Singapore Branch
Indian Bank
National Australia Bank Limited

 

  Arrangers
China CITIC Bank International Limited Singapore Branch
Commerzbank AG, Singapore Branch
Lloyds Bank Corporate Markets plc, Singapore Branch
Natixis Singapore Branch
Sumitomo Mitsui Trust Bank Limited, Singapore Branch
UBS AG, Singapore Branch
United Overseas Bank Limited

 

  Co-Arrangers
National Bank of Fujairah  

 

 

 

 Cision View original content: https://www.prnewswire.com/news-releases/mercuria-closes-oversubscribed-revolving-credit-facility-of-us-720-000-000-in-financing-for-its-asian-business-301179628.html  

 

SOURCE Mercuria

 
 

News Provided by PR Newswire via QuoteMedia

The Conversation (0)
BTV Highlights: North American Iron, West Red Lake Gold Mines, Northisle Copper and Gold, Westport Fuels, US Gold, Orvana Minerals, Avino Silver & Gold, Pasofino Gold, & Mayfair Gold

BTV Highlights: North American Iron, West Red Lake Gold Mines, Northisle Copper and Gold, Westport Fuels, US Gold, Orvana Minerals, Avino Silver & Gold, Pasofino Gold, & Mayfair Gold

Watch on FOX Business News
Saturday, July 5 at 5:00 PM EST or via the links below

Tune into BTV-Business Television and Discover Investment Opportunities featuring nine standout companies making major moves globally.

North American Iron - With pig iron in short supply, North American Iron is stepping up with a two-million-ton annual solution. The company is transforming Minnesota's legacy iron ore into a domestic feedstock for U.S. steelmakers-backed by North Dakota's clean energy support and aiming for production in 2029.

West Red Lake Gold Mines (TSXV: WRLG) (OTCQB: WRLGF) - BTV features West Red Lake Gold as it marks its first gold pour at the fully permitted Madsen Mine in Ontario's Red Lake district. With two million ounces of historical production and robust infrastructure, the company is ramping toward 70,000 ounces per year.

Northisle Copper and Gold (TSXV: NCX) (OTCQX: NTCPF) - BTV spotlights Northisle's advanced copper-gold project on Vancouver Island. With an estimated long mine life, low capital intensity, and proximity to a deepwater port, the project is backed by experienced leadership and strong local support.

Westport Fuel Systems (NASDAQ: WPRT) - With over 30 years of innovation, Westport is delivering fuel-agnostic engine solutions including hydrogen and natural gas. Through its high-pressure joint venture and over 1,400 patents, Westport is helping long-haul transportation transition toward cleaner fuel alternatives.

U.S. Gold Corp. (NASDAQ: USAU) - This fully permitted copper-gold project in Wyoming boasts a sub-two-year payback. ESG-friendly plan, low water use, and potential for added revenue through local gravel sales.

Orvana Minerals (TSX: ORV) (OTCQX: ORVMF) - With operations in Spain and growth projects in Bolivia and Argentina, Orvana Minerals delivers near-term production and exploration upside across gold, copper, and silver.

Avino Silver & Gold (TSX: ASM) (NYSE American: ASM) - A debt-free, cash-flow positive silver, gold, and copper producer, operating in Durango, Mexico. With development underway at a second mine, Avino is scaling production while leveraging existing infrastructure.

Pasofino Gold (TSXV: VEIN) (OTCQB: EFRGF) - is advancing a 3.9-million-ounce gold project in Liberia. Backed by strong economics and a completed feasibility study, the company is preparing for a construction decision and aiming for early production of up to 200,000 ounces per year.

Mayfair Gold (TSXV: MFG) (OTCQX: MFGCF) - Mayfair Gold is developing a low-risk, fast-to-market gold operation in Ontario, with a unique strategy to self-finance expansion using early cash flow. Positioned below federal permitting thresholds, it's set to capitalize on the current gold cycle.

About BTV - Business Television:

On air for 25+ years, BTV - Business Television, a half-hour investment TV show, delivers up-and-coming companies and investment opportunities. With Hosts, Taylor Thoen and Jessica Katrichak, BTV features stock market analysts, experts and on location interviews with emerging company executives.

TV BROADCAST NETWORKS and TIMES: 

Airing on FOX Business News!

  • Saturday, July 5 @ 5:00pm ET

Suggest a Company to Feature!

Contact: (604) 664-7401 x3 info@b-tv.com. To receive BTV news, subscribe.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/257791

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Westport to Issue Q2 2025 Financial Results on August 11, 2025 and Provides an Update on the Divestment of the Light-Duty Segment

Westport to Issue Q2 2025 Financial Results on August 11, 2025 and Provides an Update on the Divestment of the Light-Duty Segment

 

Westport Fuel Systems Inc. (TSX: WPRT Nasdaq: WPRT) ("Westport" or "The Company") announces that the Company will release Q2 2025 financial results on Monday, August 11, 2025, after market close. A conference call and webcast to discuss the financial results and other corporate developments will be held on Tuesday, August 12, 2025.

 

Time: 10:00 a.m. ET (7:00 a.m. PT)
Call Link: https://register-conf.media-server.com/register/BI842f3b76bd5b44c7aee3e609a6cc77b3   
Webcast: https://investors.westport.com  

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Shell sign on a tall pole against a clear blue sky.

Shell Denies Interest in BP Takeover, Freezing Potential Deal for Six Months

Shell (NYSE:SHEL) has moved quickly to shut down speculation about a takeover bid for BP (LSE:BP,NYSE:BP), issuing a formal statement under the UK Takeover Code.

According to the company, no talks have taken place and it has no intention of making an offer.

“In response to recent media speculation Shell wishes to clarify that it has not been actively considering making an offer for BP and confirms it has not made an approach to, and no talks have taken place with, BP with regards to a possible offer,” the company said in a statement released Thursday (June 26) morning.

Keep reading...Show less
CHARBONE Hydrogen Executed a Master Collaborative Agreement to Receive 1M USD to Support the Deployment of a Malaysian Green Hydrogen Project Development for a Local Partner

CHARBONE Hydrogen Executed a Master Collaborative Agreement to Receive 1M USD to Support the Deployment of a Malaysian Green Hydrogen Project Development for a Local Partner

 

(TheNewswire)

 
     
  Charbone Hydrogen Corporation 
          
 

  The CHARBONE team will serve as expert matter advisors to a private Malaysian financial group for the development and construction of their first modular and scalable production facility in the Asia-Pacific region.  

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×