China Merchants Bank contributes to USD 1.393 billion multi-tranche syndicated lending facility to Mercuria Energy Group, Ltd. for debt refinancing, working capital, and general corporate purposes in 2022 (linked to Record ID#104194, #104197, #104198)

Project narrative

On 17 November 2022, a syndicate of 31 lenders -- including Bank of China, ICBC, China CITIC Bank International, and China Merchants Bank -- reached financial close on a USD 1.393 billion multi-tranche syndicated lending facility to Mercuria Energy Group, Ltd. Proceeds from the facility are to be used to refinance existing facilities, for working capital, and for general corporate purposes. The facility is comprised of four tranches: a one-year multicurrency revolving credit facility, a one-year term loan, a one-year swing-line facility, and a three-year revolving credit facility. Other lending details, including the size of each tranche, are unknown. A total of 31 lenders joined the syndicate. Abu Dhabi Commercial Bank, APICORP, Bank of China, Rabobank, DBS Bank, ICBC, ING Bank, Mizuho Bank, MUFG Bank, OCBC, SocGen, and SMBC served as bookrunning mandated lead arrangers. Emirates NBD Bank, National Australia Bank, and Indian Bank served as mandated lead arrangers. CA-CIB, Westpac, and Banco do Brasil served as lead arrangers. China CITIC Bank International, Natixis, Sumitomo Mitsui Trust Bank, UBS, and UOB served as arrangers. AfrAsia Bank, China Merchants Bank, Europe Arab Bank, National Bank of Fujairah, Bank of Panshin, Chang Hwa Commercial Bank, Taichung Commercial Bank, and Taiwan Cooperative Bank served as co-arrangers. Bank of China's contribution is captured via Record ID#104194. ICBC's contribution is captured via Record ID#104197. China CITIC Bank International's contribution is captured via Record ID#104198. China Merchants Bank's contribution is captured via Record ID#104199.