ICBC contributes to USD 755 million dual-tranche syndicated revolving credit facility to Mercuria Energy Trading Pte Ltd for debt refinancing and general corporate purposes

Project narrative

In December 2011, a group of 29 banks — including ICBC — signed a USD 755 million dual-tranche syndicated revolving credit facility agreement with Mercuria Energy Trading Pte. Ltd., a Singapore-based trader of crude oil and refined oil products. Proceeds from the facility will be used to refinance existing debt and to finance general corporate and working capital requirements. The facility is divided into a one-year tranche and a three-year tranche, though the exact division is unclear. Other lending details are unknown. BNP Paribas, DBS Bank, HSBC, ICBC, ING Bank, Societe Generale Corporate & Investment Banking, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation served as mandated lead arrangers and bookrunners for the agreement. Other participating banks are Rabobank International, Royal Bank of Scotland, RBS (Deutschland) AG, First Gulf Bank PJSC, Indian Overseas Bank, Qatar National Bank SAQ, United Overseas Bank, ANZ Banking Group, Bank of Tokyo-Mitsuibishi UFJ, British Arab Commercial Bank, Chinatrust Commercial Bank Co., Citibank, Raiffeisen Bank International AG, The Bank of East Asia, Zenith Bank (UK), Banco do Brasil, Bank of Taiwan, Hang Seng Bank Limited, Krung Thai Bank, Mega International Commercial Bank Co., PT Bank Negara Indonesia (Persero) Tbk, and Union de Banques Arabes et Francaises.