Narrative
Full Description
Project narrative
On November 17, 2017, a group of 29 banks -- including Bank of China and ICBC -- signed an agreement to provide a USD 1 billion multi-tranche syndicated revolving credit facility to Mercuria Energy Trading Pte. Ltd. and Mercuria Asia Group Holdings Pte. Ltd., subsidiaries of Cypriot-domiciled global commodities trader Mercuria. Proceeds from the facility will be used to refinance Mercuria's 2016 RCF (captured via Record ID#99243, #99244), working capital, and general corporate purposes. The facility is comprised of three tranches: a 1-year RCF (with an RMB option), a 1-year RCF/swingline facility, and an extension of the 2016 3-year tranche by another 12 months. All three facilities are revolving in nature. This loan replaces the 2016 facility (Record ID#99243). Bank of China's contribution is captured here. ICBC's contribution is captured via Record ID#99252. A total of 29 banks joined the syndicate. ANZ Group, Bank of Tokyo-Mitsubishi UFJ, Rabobank, DBS Bank, Emirates NBD PJSC, ICBC, ING Bank N.V., Mizuho Bank, OCBC, Societe Generale, and SMBC served as bookrunning mandated lead arrangers. Bank of China and CTBC Bank served as mandated lead arrangers. UOB, Banco do Brasil, and National Australia Bank served as lead arrangers. Arab Petroleum Investments Corporation, Commonwealth Bank of Australia, SMTB, UBS AG, and Westpac served as arrangers. CA-CIB, Commerzbank AG, E.SUN Commercial Bank, KBC Bank N.V., Mashreqbank, Natixis, bank of Panhsin, and UBAF served as co-arrangers.
Staff comments
1. AidData is unable to ascertain the individual contributions made to the facility by each member of the syndicate, therefore equal contributions from each lender have been assumed. Similarly, the absence of information on the breakdown of each tranche, one single project record using the average maturity from across the three tranches has been created.