Narrative
Full Description
Project narrative
On January 27, 2010, a group of 14 banks -- including ICBC -- reached financial close on a USD 281 million syndicated revolving credit facility to Mercuria Energy Trading Pte Ltd, a Singapore-based trader of crude oil and refined oil products. Proceeds from the facility will be used for unspecified corporate purposes. The facility has a maturity of one year, with an interest rate of LIBOR plus 150 basis points. BNP Paribas, ING Bank N.V., Societe Generale Corporate & Investment Banking, and Standard Chartered Bank served as mandated lead arrangers and bookrunners. China Minsheng Banking Corp., ICBC, Bank of Ayudhya, Europe Arab Bank, Chinatrust Commercial Bank, Indian Bank, Raiffeisen Bank, Mega International Commercial Bank, PT Bank Mandiri (Persero) TBK, and Union de Banques Arabes et Franciases also joined the syndicate.
Staff comments
1. AidData is unable to ascertain the individual contributions made to the facility by each member of the syndicate, therefore equal contributions from each lender have been assumed (281/14). 2. AidData has calculated the interest rate for this facility using the 6-month LIBOR rate from January 2010 (0.399%). For more information, see: https://www.global-rates.com/en/interest-rates/libor/american-dollar/2010.aspx