Agricultural Bank of China contributes to USD 1.35 billion multi-tranche syndicated revolving credit facility to Mercuria Energy Trading Pte. Ltd. and Mercuria Asia Group Holdings Pte. Ltd. for debt refinancing and working capital purposes in 2018 (linked to Record ID#99257, #99258, #99259)

Project narrative

On November 19, 2018, a group of 36 banks -- including Bank of China, ICBC, Shanghai Pudong Development Bank, and Agricultural Bank of China -- signed an agreement to provide a USD 1.35 billion multi-tranche syndicated revolving credit facility to Mercuria Energy Trading Pte. Ltd. and Mercuria Asia Group Holdings Pte. Ltd., subsidiaries of the Cypriot-domiciled commodities trader Mercuria. Proceeds from the facility will be used to refinance existing debts, as well as for general corporate and working capital purposes. The facility has three tranches: a 1-year RCF (with an RMB option), a 1-year RCF/swingline facility, and a 3-year RCF. Other lending details, including the breakdown amongst the tranches, are unknown. This loan replaces and refinances the loan in 2017. BOC's contribution is captured via Record ID#99257. ICBC's contribution is captured via Record ID#99258. SPDB's contribution is captured via Record ID#99259. ABC's contribution is captured via Record ID#99260. A total of 36 banks joined the syndicate. ANZ Group, Bank of China, Rabobank, DBS Bank, Emirates NBD Capital, ICBC, ING Bank N.V., Mizuho Bank, MUFG Bank, OCBC, SG-CIB, and SMBC served as bookrunning mandated lead arrangers. UOB, APICORP, CTBC, and Indian bank served as mandated lead arrangers. Banco do Brasil, Agricultural Bank of China, CA-CIB, Maybank Bhd, National Australia Bank, and Shanghai Pudong Development Bank served as lead arrangers. Commerzbank, Commonwealth Bank of Australia, Natixis, SMTB, UBS, and Westpac served as arrangers. ABN AMRO, E.SUN Commercial Bank, Lloyds Bank, Taichung Commercial Bank, Taipei Fubon Commercial Bank, Taiwan Cooperative Bank, Bank of Panhsin, and UBAF served as co-arrangers.