Overview

ICBC contributes USD 88.24 million to dual-tranche USD 1.7 billion syndicated revolving credit facility to Mercuria Energy America in 2018

Commitments (Constant USD, 2023)$88,795,585

Commitment Year•2018Country of Activity•United StatesDirect Recipient Country of Incorporation•United StatesSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Nov 13, 2018

Geospatial footprint

Map overview

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Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned Commercial Banks

Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

Mercuria Energy America, LLC (formerly Mercuria Energy America, Inc. (MEIA))

Loan desecription

ICBC contributes USD 88.24 million to dual-tranche USD 1.7 billion syndicated revolving credit facility to Mercuria Energy America

Interest type•Unknown

Narrative

Full Description

Project narrative

On 13 November 2018, a syndicate of 17 lenders -- including ICBC -- reached financial close on a USD 1.7 billion syndicated revolving credit facility to Mercuria Energy America, a subsidiary of Mercuria. Proceeds from the facility will be used to refinance Mercuria's 2017 North American revolving credit facility, in addition to being used for general corporate purposes. The facility is comprised of two tranches, each of an unknown amount. Other lending details, including the other lenders, are unknown.