Bank of China contributes to USD 2.1775 billion multi-tranche syndicated lending facility to Mercuria Energy Trading S.A. for debt refinancing and general corporate purposes in 2022 (linked to Record ID#104191, #104192, #104193)

Project narrative

On June 24, 2022, a syndicate of 35 banks -- including Bank of China, ICBC, Agricultural Bank of China, and China Construction Bank -- reached financial close on a USD 2.1775 billion multi-tranche syndicated lending facility to Mercuria Energy Trading S.A. Proceeds from the facility will be used to refinance Mercuria's existing 2021 European revolving credit facility, in additional to working capital and general corporate purposes. This loan refinances and replaces the loan in 2021 (Linked to Record ID#99294). The facility is comprised of three tranches: a 1-year multicurrency revolving credit facility, a 1-year multicurrency revolving credit/swingline/OBSI facility, and a 3-year revolving credit facility with one 1-year extension option. Both of the 1-year tranches include two 1-year extension options. Other lending details, including the size of each tranche, are unknown. A total of 37 banks participated in the lending syndicate. Bank of China, Rabobank, CA-CIB, Credit Suisse, Emirates NBD Bank, ICBC, ING Bank, Mizuho Bank, Natixis, Sumitomo Mitsui Banking Corporation, UBS, and UniCredit Bank served as bookrunning mandated lead arrangers. DZ Bank served as mandated lead arranger. Serving as lead arrangers were Agricultural Bank of China, China Construction Bank, Commerzbank, DBS Bank, Erste Group Bank, First Abu Dhabi Bank, MUFG Bank, and Raiffeisen Bank International. Bank ABC, Bank of Taiwan, Caixabank, Lloyds Bank, National Bank of Ras Al-Khaimah, Sumitomo Mitsui Trust Bank, and Zurcher Kantonalbank served as arrangers. Joining as co-arrangers were Bankinter, Banque Cantonale Vaudoise, First Commercial Bank, and Nedbank. Afrasia Bank, Banque Cantonale de Geneve, and GarantiBank joined as participants. Bank of China's contribution is captured via Record ID#104189. ICBC's contribution is captured via Record ID#104191. Agricultural Bank of China's contribution is captured via Record ID#104192. China Construction Bank's contribution is captured via Record ID#104193.