Le Lézard
Classified in: Oil industry, Business
Subject: FNC

Mercuria Closes Oversubscribed Secured Revolving Credit Facility of US$ 1,700,000,000 in Financing for its North American Business


HOUSTON, Nov. 24, 2020 /PRNewswire/ -- Mercuria's North American operating entities ("Mercuria" or "the Company") are pleased to announce the successful closing of its US$ 1,700,000,000 one-year senior secured borrowing base revolving credit facility (the "Facility"). Mercuria decreased the size of the Facility by US$ 200 million while adding additional banks to the banking group.  The joint and several borrowers are Mercuria Energy America LLC, Minerva Bunkering (USA) LLC, and Mercuria Commodities Canada Corporation (the "Borrowers").

Joint-Lead Arrangers for the Facility were Societe Generale, MUFG Bank Ltd, Natixis New York Branch, Cooperatieve Rabobank U.A. New York Branch and ING Capital LLC.  Societe Generale acted as sole coordinator, Facility Agent and Collateral Agent while MUFG Bank Ltd, Natixis New York Branch, Cooperatieve Rabobank U.A. New York Branch and ING Capital LLC acted as Co-Syndication Agents. Credit Agricole Corporate and Investment Bank, Mizuho Bank, Ltd. and Sumitomo Mitsui Banking Corporation are participating as Co-Documentation Agents and a further eleven banks participated at various commitment levels.

The Facility was once again heavily over-subscribed, with Mercuria choosing to scale back lender commitments.  It will be used for financing the Company's working capital needs related to North American inventory and receivables.  Additionally, the Facility has grown its capacity to finance the ongoing transition into green energy with the Company's growing renewable portfolio in North America.

"Mercuria's banking partners have continued to show strong support for our North American facility, despite today's uncertain market conditions.  We were substantially over-committed and increased the size of our bank group, which is a testament to our enduring performance.  We look forward to working with our banking partners over the upcoming year as we continue to grow the North American business," said Guillaume Vermersch, Group Chief Financial Officer of Mercuria.

SOURCE Mercuria


These press releases may also interest you

at 11:48
Benjamin Capital Partners announced today the closing of a seed round, raising a total of $5.5 mil. from Play Ventures & F4 Fund. Other prominent investors in the round include inventor, investor, and serial...

at 11:45
Ternary, a leader in multi-cloud FinOps software for enterprises, announced the addition of Yalei Wang to its executive team as Vice President of Product Delivery. Wang steps into his new role with over two decades of software engineering and...

at 11:31
ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market....

at 11:30
SharpQuest, Inc., a software services provider with a niche in cloud and mobile-app solutions, is thrilled to announce the opening of its new branch office in Windsor, Ontario, Canada. This strategic expansion marks a significant milestone in our...

at 11:18
Bloxcross, a premier payment solutions provider, and GoDirectPay, an e-payment expert, have collaborated to launch a groundbreaking mobile application that revolutionizes global payments. https://directpay.blox.global/register/ This custom-built app...

at 11:10
NewMarket Corporation announced today it expects to release first quarter 2024 earnings at the close of business on Wednesday, April 24, 2024. The earnings announcement will also be available on the Company's website at www.NewMarket.com the...



News published on and distributed by: