ICBC contributes to USD 2.5 billion syndicated multi-tranche revolving credit facility to Mercuria Energy Trading S.A. for debt refinancing and working capital purposes in 2015

Project narrative

On June 22, 2015, a syndicate of 52 banks — including ICBC — signed an agreement to provide a USD 2.5 billion syndicated multi-tranche revolving credit facility to Mercuria Energy Trading S.A., a Swiss-based wholly-owned subsidiary of Mercuria Energy Group Ltd. sProceeds from the facility are to be used to refinance Mercuria's maturing 2014 debts, alongside working capital and general corporate purposes. The facility consists of two tranches: a USD 1.9 billion 364-day RCF and a USD 600 million 3-year RCF. Other lending details are unknown. A total of 52 banks contributed to the facility. ABN AMRO Bank, Credit Agricole Corporate and Investment Bank, ICBC, ING Bank N.V., Natixis, Rabobank, RBS, Societe Generale Corporate & Investment Banking, and SMBC served as mandated lead arrangers and bookrunners. Bank of America Merrill Lynch, Commonwealth Bank of Australia, Credit Suisse, DBS Bank, Emirates NBD, Lloyds Banking Group, Mizuho Bank, Ltd., and National Bank of Abu Dhabi served as mandated lead arrangers. Deutsche Bank, First Gulf Bank, UBC, and UniCredit served as lead arrangers. KfW-IPEX Bank, Nedbank, State Bank of India, and The Bank of Tokyo-Mitsuibishi, Ltd. served as arrangers. Commerzbank, Banco do Brasil, Banco de Sabadell, Bank of Nova Scotia, ANZ, BHF Bank, Commercial Bank of Dubai, Fifth Third Bank, Hang Seng, Landesbank Baden-Wuerttemberg, Raiffeisen Bank International, Sumitomo Mitsui Trust Bank, and Zurcher Kantonalbank served as co-arrangers. Arab Bank PLC, Bank Leumi, DZ Bank, Hua Nan Commercial Bank, Habib Bank, Axis Bank, Banque Cantonale de Geneve, Banque Cantonale Vaudoise, Banque de Commerce et de Placements, Bank of Taiwan, First Commercial Bank, GarantiBank International, Taiwan Cooperative Bank, and UBAF served as managers.