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Overview

Bank of China contributes to USD 900 million multi-tranche syndicated lending facility to Mercuria Energy Trading Pte. Ltd. and Mercuria Asia Group Holdings Pte. Ltd. for debt refinancing and working capital purposes (linked to Record ID#99244)

Commitments (Constant USD, 2023)$49,082,471
Commitment Year•2016Country of Activity•SingaporeDirect Recipient Country of Incorporation•SingaporeSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Nov 1, 2016

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned Commercial Banks

  • Bank of China (BOC)

Cofinancing agencies

Intergovernmental Organizations

  • Arab Petroleum Investments Corporation (APICORP)

Private Sector

  • Australia and New Zealand Banking Group (ANZ)
  • Bank of Panhsin (BOP) (formerly Panchiao Credit Cooperatives (PCC))
  • Coöperatieve Rabobank U.A. (Rabobank)
  • CTBC Bank (formerly Chinatrust Commercial Bank)
  • DBS Bank Ltd.
  • E.SUN Commercial Bank, Ltd.
  • Hang Seng Bank Limited
  • ING Bank N.V.
  • Mizuho Bank, Ltd.
  • MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU))
  • Oversea-Chinese Banking Corporation, Limited (OCBC Bank)
  • Société Générale Corporate and Investment Banking (SGCIB)
  • Sumitomo Mitsui Banking Corporation (SMBC)
  • Union de Banques Arabes et Francaises (UBAF)
  • United Overseas Bank Limited (UOB)

State-owned Banks

  • Banco do Brasil S.A.
  • Emirates NBD Bank P.J.S.C.
  • First Gulf Bank (FGB)

State-owned Commercial Banks

  • Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

  • Mercuria Asia Group Holdings Pte. Ltd.
  • Mercuria Energy Trading Pte. Ltd.

Loan description

Mercuria 2016 USD 900 Million RCF

Interest type•Unknown

Narrative

Full Description

Project narrative

In November 2016, a group of 20 banks — including Bank of China and ICBC — signed an agreement to provide a USD 900 million multi-tranche syndicated lending facility to Mercuria Energy Trading Pte. Ltd. and Mercuria Asia Group Holdings Pte. Ltd., subsidiaries of Cypriot-domiciled Mercuria Group. Proceeds from the facility will be used to refinance Mercuria's November 2015 facility (captured via Record ID#99239 and #99240), alongside working capital and general corporate purposes. The facility consists of three, unknown tranches. This loan replaces and refinances the 2015 loan (Record ID#99239). Other lending details are unknown. Bank of China's contribution is captured via Record ID#99243. ICBC's contribution is captured via Record ID#99244. 20 banks participated in the syndicate. ANZ, Bank of Tokyo-Mitsubishi UFJ, DBS, Emirates NBD, ING Bank, ICBC, Mizuho Bank, SG-CIB, SMBC, and UOB served as mandated lead arrangers and bookrunners. Bank of China and Rabobank served as mandated lead arrangers. Arab Petroleum Investments Corp., Banco do Brasil, Bank of Panhsin, CTBC Bank, E.Sun Commercial Bank, First Gulf Bank, Hang Seng Bank, and UBAF served as arrangers.

Staff comments

1. AidData is unable to ascertain individual contributions made to the facility by each member of the syndicate, therefore equal contributions have been assumed. 2. Given the lack of information about the breakdown of the tranches, AidData has created one single project record for this facility.