Narrative
Full Description
Project narrative
On November 16, 2020, a group of 22 banks -- including Bank of China, ICBC, and China CITIC Bank International -- signed an agreement to provide a USD 720 million multi-tranche syndicated revolving credit facility to Mercuria Energy Trading Pte. Ltd. and Mercuria Asia Group Holdings Pte. Ltd., subsidiaries of Mercuria, a Cypriot-domiciled global commodities trader. Proceeds from the facility will be used to refinance Mercuria's maturing debts, alongside general corporate and working capital purposes. The facility consists of two tranches: a one-year revolving credit facility and a one-year revolving credit/swingline facility. Other lending details, including a breakdown of the two tranches, are unknown. This loan refinances and replaces the 2019 loan (Record ID#99287). BOC's contribution is captured via Record ID#99291. ICBC's contribution is captured via Record ID#99292. China CITIC Bank International's contribution is captured via Record ID#99293. A total of 22 banks joined the lending syndicate. Bank of China, Rabobank, DBS Bank, Emirates NBD Capital, ICBC, ING Bank N.V., Mizuho Bank, MUFG Bank, OCBC, SocGen, and SMBC served as bookrunning mandated lead arrangers. CA-CIB, Indian Bank, and National Australia Bank served as lead arrangers. China CITIC Bank International, Commerzbank AG, Lloyds Bank Corporate Markets, Natixis, SMTB, UBS AG, and UOB joined as arrangers. National Bank of Fujairah served as a co-arranger.
Staff comments
1. AidData is unable to ascertain individual contributions made to the facility by each member of the syndicate, therefore equal contributions from each lender have been assumed. Similarly, due to a lack of information about whether each bank contributed to both tranches, this project records serves as a unified record for both tranches in the absence of other information.