Mercuria Closes Oversubscribed Secured Revolving Credit Facility of US$ 1,700,000,000 in Financing for its North American Business

- Mercuria's North American operating entities ("Mercuria" or "the Company") are pleased to announce the successful closing of its US$ 1,700,000,000 one-year senior secured borrowing base revolving credit facility (the "Facility"). Mercuria decreased the size of the Facility by US$ 200 million while adding additional banks to the banking group.  The joint and several borrowers are Mercuria Energy America LLC, Minerva Bunkering ( USA ) LLC, and Mercuria Commodities Canada Corporation (the "Borrowers").

Joint-Lead Arrangers for the Facility were Societe Generale, MUFG Bank Ltd, Natixis New York Branch, Cooperatieve Rabobank U.A. New York Branch and ING Capital LLC.  Societe Generale acted as sole coordinator, Facility Agent and Collateral Agent while MUFG Bank Ltd, Natixis New York Branch, Cooperatieve Rabobank U.A. New York Branch and ING Capital LLC acted as Co-Syndication Agents. Credit Agricole Corporate and Investment Bank, Mizuho Bank , Ltd. and Sumitomo Mitsui Banking Corporation are participating as Co-Documentation Agents and a further eleven banks participated at various commitment levels.

The Facility was once again heavily over-subscribed, with Mercuria choosing to scale back lender commitments.  It will be used for financing the Company's working capital needs related to North American inventory and receivables.  Additionally, the Facility has grown its capacity to finance the ongoing transition into green energy with the Company's growing renewable portfolio in North America .

"Mercuria's banking partners have continued to show strong support for our North American facility, despite today's uncertain market conditions.  We were substantially over-committed and increased the size of our bank group, which is a testament to our enduring performance.  We look forward to working with our banking partners over the upcoming year as we continue to grow the North American business," said Guillaume Vermersch , Group Chief Financial Officer of Mercuria.

Cision View original content: https://www.prnewswire.com/news-releases/mercuria-closes-oversubscribed-secured-revolving-credit-facility-of-us-1-700-000-000-in-financing-for-its-north-american-business-301179715.html

SOURCE Mercuria

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