Bank of China contributes to USD 2 billion multi-tranche syndicated revolving credit facility to Mercuria Energy Trading S.A. for working capital and general corporate purposes in 2017 (linked to Record ID#99247, #99248, #99249)

Project narrative

On June 19, 2017, a group of 39 banks -- including Bank of China, ICBC, Agricultural Bank of China, and China Construction Bank -- signed an agreement to provide a USD 2 billion multi-tranche syndicated revolving credit facility to Mercuria Energy Trading S.A., a subsidiary of Mercuria, a Cypriot-domiciled global commodities trader. Proceeds from the facility will be used for working capital and general corporate purposes. The facility is comprised of three tranches: a 12-month RCF, a 12-month RCF/swingline facility, and a 3-year RCF. The two 12-month RCFs each hold a 12-month extension option. This loan replaces the 2016 facility (Record ID#99241). Other lending details are unknown. BOC's contribution is captured via Record ID#99246. ICBC's contribution is captured via Record ID#99247. ABC's contribution is captured via Record ID#99248. CCB's contribution is captured via Record ID#99249. ABN AMRO, Rabobank, CA-CIB, Credit Suisse, First Abu Dhabi Bank, ICBC, ING Bank N.V., Mizuho Bank, Natixis, SG-CIB, SMBC, RBS, and Unicredit AG acted as bookrunning mandated lead arrangers. Bank of America Merrill Lynch, Commonwealth Bank of Australia, DBS, Deutsche Bank, DZ Bank AG, and Emirates NBD served as mandated lead arrangers. UBS AG served as lead arranger. MUFG served as arranger. Bank of China, Commerzbank, Agricultural Bank of China, Erste Group, Hang Seng, Nedbank, Raiffeisen Bank International, Sumitomo Mitsui Trust Bank, and Zurcher Kantonalbank served as co-arrangers. Banque Cantonale de Geneve, Banque Cantonale Vaudoise, China Construction Bank, Commercial Bank of Dubai, UBAF, Banco do Brasil, and Banque Misr served as participants.