Narrative
Full Description
Project narrative
On June 10, 2016, a group of 39 banks -- including ICBC -- signed an agreement to provide a USD 2.2 billion syndicated multi-tranche revolving credit facility to Mercuria Energy Trading S.A., a Swiss-subsidiary of Mercuria, a global commodities trader. Proceeds from the facility will be used for general corporate and working capital purposes. The facility has three tranches: a 364-day RCF, a 364-day RCF/swingline facility, and a 3 year RCF. All three tranches include a 364-day extension option. This loan replaces and refinances the loan in 2015 (Record ID#99237) Other lending details, including the breakdowns of each tranche, are unknown. ABN AMRO, CA-CIB, Credit Suisse AG, ICBC, ING Bank N.V., Natixis, Rabobank, RBS, SG-CIB, SMBC, and UniCredit served as bookrunning mandated lead arrangers. Bank of America Merrill Lynch International Limited, Commonwealth Bank of Australia, DBS Bank Ltd., Deutsche Bank AG, Emirates NBD PJSC, Mizuho Bank, Ltd. and National Bank of Abu Dhabi PJSC joined as Mandated Lead Arrangers. Bank of Tokyo-Mitsubishi UFJ, First Gulf Bank, HSH Nordbank, Nedbank, and UBS served as arrangers. Banco do Brasil, Commerzbank, Hang Seng Bank, KfW IPEX Bank, Lloyds Bank, Raiffeisen Bank, Scotiabank, Sumitomo Trust and Banking Corp., and Zurcher Kantonalbank served as co-arrangers. Bank Leumi, Banque Cantonale de Geneve, Banque Cantonale Vaudoise, Banque de Commerce et de Placements, DZ Bank, Garanti Bank, and UBAF served as managers.
Staff comments
1. AidData is unable to ascertain the individual contributions made to the facility by each member of the syndicate, therefore equal contributions have been assumed. Similarly, in the absence of information on which tranches banks contributed to, this single project record has been created using the average of the maturities of each tranche.